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Trading Made Simple

  • #2,481
  • May 13, 2011 6:11am May 13, 2011 6:11am
Quoting snarlyjack
Nhen,

When I trade this system on the 4 hour charts....
Thanks SnarlyJack. Especially for the accurate timing. It lets us relate it to our own time zone.
Luck occurs when preparation meets with opportunity.
  • #2,482
  • May 13, 2011 6:32am May 13, 2011 6:32am
Quoting adeforex
i just entered at the begining of the second candle . See more of them on your chats.
they may come 1-3 times weekly on 4 hr and above chats/ pair that i trade. I also trade bounce signals as our boss. Let see how far we can go
That is how i trade, it minimizes many losses.
Hope it clears
Hi Adeforex,

thanks to sum up everything for me. Will put your answer on a note @my desk.

Regards,
Sangkil
  • #2,483
  • May 13, 2011 6:41am May 13, 2011 6:41am
Quoting nhen
This is a great little pdf on trading psychology, came from another thread.
Thought someone may find it useful!
Enjoy.
That's a nice little ebook thanks.
  • #2,484
  • May 13, 2011 6:59am May 13, 2011 6:59am
Quoting JayTrader
Thanks all for the comments on the USDCHF trade. I find the hardest thing about trading this or any other forex style is keeping myself in check ( the trading discipline pdf is appropriate here nhen Thanks) I have a very bad habit of creating something from nothing. When it goes bad I analyze the **** out of it and end up more lost and confused than when I started, because I never stopped in the past to look at the real problem which was me. What i am doing with Big E's style, is trading this strictly by the rules he gave us and focusing on the...
Definately best to double/triple check everything (theres not much to check really so its worth doing it right). TDI/Stoch basics, strength of the setup candle and the forex basics: S/R, trend, news. A rushed trade is usually a loosing trade for me.
  • #2,485
  • Edited 9:39am May 13, 2011 7:05am | Edited 9:39am
I took this long a bit late (10 mins before the end of the M30 bar follwing the cross), but couldn't resist this nice Green Up slope and PA. Will see. Will close the position in 2 hours (London close) no matter the outcome.

Update: Target hit. Price went beyond it (probably wiping out stops) and now pulling back down heading my target from the oposite direction. Could have cached few more pips, but it is friday :-)

I should note at some point TDI green was almost flat (intrabar) but above the breakout and I decided to stay in. Basic 4x.
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Bah...
  • #2,486
  • Edited 7:41am May 13, 2011 7:09am | Edited 7:41am
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Two trades I just took (15 + 18)35 on au and (15 x 2)30 on AY got out premature but shutting down for week end Total for week all BIG E 485 positive 50 negative = 435

 Everyone have Happy and Safe weekend
Always Learning
  • #2,487
  • May 13, 2011 7:12am May 13, 2011 7:12am
Long USD/CHF 4 hr @ 0.88748.
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  • #2,488
  • May 13, 2011 7:55am May 13, 2011 7:55am
Quoting snarlyjack
Nhen,

When I trade this system on the 4 hour charts. I'am looking for about
$100.00. Maybe a little shy of it maybe north of it. Yesterday
I made $135.00 .

What I do is set my trades and go to work and check back on the
charts 9 hours later. I use a $100.00 hard stop and try to ride
the trend. I'am setting my trades at 9:30 p.m. mountain standard time
(trading the London time frame). I will set my trades by the TDI.
Sometimes only 1 contract sometimes 3 different contracts. Just
depends on what the TDI is signaling. I try to catch the trend...
So SnarlyJack, you basically u chose your trading time so you can place trades prior to the London open and before your bedtime. Then when you get up in the morning, you close your trades? Thanks!
  • #2,489
  • May 13, 2011 8:07am May 13, 2011 8:07am
Here's a trade on usdcad off 4hr.

Please let me know if I did anything wrong here
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  • #2,490
  • May 13, 2011 8:12am May 13, 2011 8:12am
Finally. Man that resistance just did not want to give it up.

I've been in this trade since thursday. Endured a -71 pip drawdown, and now I'm finally in profit with +38 It was a bounce trade off a second candle.

Please note that I did not follow the TDI rules of exiting. (though it would have got me out with very little loss or BE....again !)

I held on because of the overall trend of the week, and because I could see that if just under .6250 broke, it might be a nice run.
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  • #2,491
  • May 13, 2011 8:25am May 13, 2011 8:25am
Quoting Dyekid217
Here's a trade on usdcad off 4hr.

Please let me know if I did anything wrong here
The signal is good and you are on candle 1.

But, you should have also looked left and saw that cluster of candles that were peaking right around your entry and rejecting that price.

That doesn't mean you definatly wouldn't take it, just that you have to consider it give it a good look and surmise if it will break that area or not.
  • #2,492
  • May 13, 2011 8:27am May 13, 2011 8:27am
well daily has a cross as well on the 2nd candle.. everything pointing up and matching rules on daily charts as well.. That's why I took the trade
  • #2,493
  • May 13, 2011 8:29am May 13, 2011 8:29am
Quoting Dyekid217
well daily has a cross as well on the 2nd candle.. everything pointing up and matching rules on daily charts as well.. That's why I took the trade
Good job. You in the pips now?
  • #2,494
  • May 13, 2011 8:46am May 13, 2011 8:46am
Plenty of opportunities today after Wall Street opening...

I took a small loss and 2 wins...just testing the waters....
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Market is like a puzzle, YOU have to fit the pieces!!
  • #2,495
  • Edited 9:11am May 13, 2011 8:51am | Edited 9:11am
Quoting KumoDragon
Good job. You in the pips now?
yeah im up 13 pips atm..

I'm also in nzdusd and audjpy for 20+ pips.

Last week I was struggling with this system.. but after taking some time to realize I need to place trades on big body candles I have been in the positive. Stay away from those little candles!!

EDIT: here's audjpy on 4hr and nzdusd on 4hr

and actually I'm up 47 pips on usdcad I forgot I put a trade in at .5 lot not 1 full

critique is welcome
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  • #2,496
  • May 13, 2011 9:16am May 13, 2011 9:16am
Quoting Dyekid217
yeah im up 13 pips atm..

I'm also in nzdusd and audjpy for 20+ pips.

Last week I was struggling with this system.. but after taking some time to realize I need to place trades on big body candles I have been in the positive. Stay away from those little candles!!
WTG! thats all you need on a daily basis! if you start with 1 penny on day 1 and double it every day by day 28 you'll have a million+....in reality you'll start finding it hard to double up somewhere around day 15......it would be extreme compounding to double your money on a daily basis........however increasing your account by 1-2% a day is within reason and very achievable. You would be surprised how 5% a week can snowball.

penny doubled::::

Day 1 .01
Day 2 .02
Day 3 .04
Day 4 .08
Day 5 .16
Day 6 .32
Day 7 .64
Day 8 1.28
Day 9 2.56
Day 10 5.12
Day 11 10.24
Day 12 20.48
Day 13 40.96
Day 14 81.92
Day 15 163.84
Day 16 327.68
Day 17 655.36
Day 18 1,310.72
Day 19 2,621.44
Day 20 5,242.88
Day 21 10,485.76
Day 22 20,971.52
Day 23 41,943.04
Day 24 83,886.08
Day 25 167,772.16
Day 26 335,544.32
Day 27 671,088.64
Day 28 1,342,177.28
Day 29 2,684,354.56
Day 30 5,368,709.12
Day 31 10,737,418.24
  • #2,497
  • May 13, 2011 9:26am May 13, 2011 9:26am
Hi everyone! I would like to backtest this great method on FXDD platform, but don't know how to advance the price action tic by tic. Could someone who knows help me with it, please? Thanks in advence!
  • #2,498
  • May 13, 2011 9:29am May 13, 2011 9:29am
Quoting SnapCracklePip
WTG! thats all you need on a daily basis! if you start with 1 penny on day 1 and double it every day by day 28 you'll have a million+....in reality you'll start finding it hard to double up somewhere around day 15......it would be extreme compounding to double your money on a daily basis........however increasing your account by 1-2% a day is within reason and very achievable. You would be surprised how 5% a week can snowball.

penny doubled::::

Day 1 .01
Day 2 .02
Day 3 .04
Day 4 .08
Day 5 .16
Day 6 .32
Day 7 .64
Day 8 1.28
Day 9 2.56...
Compounding is great, but above is a pipedream and does not work with forex. Figured it out mathmatically myself in terms of an actual account and margin requirments.

To compound in forex pick you risk per trade, like say 3%, compound with every win and de compound with every loss. If you have a good win/loss ratio and a method that lets let winners run and cut losses short you'll do ok.
  • #2,499
  • May 13, 2011 9:31am May 13, 2011 9:31am
LOL, I thought for sure I was going to get stopped out around +40. GU is really going for me on this trade. Currently up around +80
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  • #2,500
  • May 13, 2011 9:40am May 13, 2011 9:40am
Let's do some case study:

As seen on the chart, i took this trade because:

Trading plan 1: Is TDI pointing good angle 4 or 5? - YES @ 4.5 (Don't ask me how to see, just do a simple judgement. There is no right or wrong. Once you practice, you will know it.)
Trading plan 2: Is it in the direction of Stoch? - YES (Below 50 - a bearish bonus!)
Trading plan 3: Where is my stop loss? Is it within my risk? - YES @ nearest high with only 23 pips.
Trading plan 4: Where is my exit? - When Stoch cross or TDI Green goes flat.
Trading plan 5: Any supporting indication? Div? S&R? - Yes, a Stoch divergence.

Now with this chart, do you exit?

Keep it simple.

----

p/s: All you need to do is this same thing all over again for the next 5 days. You will understand it, easily. The answer is in the chart.
p/ss: Don't question it. Just practice it on DEMO. You will suddenly found the "AHA". Try it.
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