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Trading Made Simple

  • #2,781
  • May 17, 2011 1:09am May 17, 2011 1:09am
On H4 this is the way I looked at S & R. When the H1 & H4 look good for a long I just went with it.
I think the odds are that it may well just be a retracement against the overall trend but there was also some bullish news out of China that should give the aud a leg up.
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  • #2,782
  • May 17, 2011 1:10am May 17, 2011 1:10am
hello,

found the system very interesting , just using it for the time beeing on demo.
found also that TP is good to take when stoch cross opposit way of the initial entry.
would any body know about an ea that would just automatically close a position at the end of the bar in these circonstances
rgds
  • #2,783
  • May 17, 2011 1:10am May 17, 2011 1:10am
Quoting Dyekid217
I just use a hard 20-30 SL no matter the lows or highs. I find if it goes against me that many I got a terrible entry and would wait for more confirmation..

I can never seem to get my trades up over 150 pips on the 4 hr.. Either I'm not realizing the s&r to the left or I'm just unlucky. When I get in the trade everything looks perfect only to find out that 4 hours later the tdi is flat or there's a reversal check. I find it hard for me to force myself out of a trade once im in the red. So I need some rules to follow.

This way I get to lock in...
have you tried the one hour charts?
  • #2,784
  • May 17, 2011 1:28am May 17, 2011 1:28am
Quoting silversurfer
On H4 this is the way I looked at S & R. When the H1 & H4 look good for a long I just went with it.
I think the odds are that it may well just be a retracement against the overall trend but there was also some bullish news out of China that should give the aud a leg up.
Yep so you added some fundamentals into your calculations. In regards to your S and R levels you have marked on the chart.....I see them as the opposite. When you initially were contemplating entering the trade, the price line was under the areas you have marked with an S. Initially these were obvious support levels but price had broken through below therefore turning them into resistance. and the areas to the far left were once resistance but now are support due to the price having broken through above them. Is that not how you view it?? Please dont take this as argumentative....its interesting how other people view it.
  • #2,785
  • Edited 2:16am May 17, 2011 1:38am | Edited 2:16am
Quoting snarlyjack
Snapcrackelpop,

I wanted to respond to your blog.

When I first started trading I thought like you....
no when you are leveraged at 50:1 you cannot treat this market as if your trading stock at 2:1 leverage........

when I got 50$ a pip on the line it is an absolute sin to let a 10 pip winner turn into a looser.....I understand what your saying if your trading for a hobby and make your living at a J...ust O....ver B....roke.......but this is how i make my living.......you cannot let a good winner turn into a looser...

if im up 10 pips thats 500 bucks....I cannot let that run back past zero.....ill take 100-200$ before it goes negative.......same at 20 pips thats a grand im not gonna be up a grand and then suddenly let it slip down 100 pips and cost me 10 grand.

my advice comes from experience...I started trading in 2003....times were good.

took me 3 hard fought years to learn to manage my money properly.......I was doing great building up those small 3k accounts.

then suddenly leamen brothers went under on a saturday.......I thought its ok I had 20 pip stops on everything.....market opened on sunday 300 pips past my stop on every trade.....wiped me out 26 thousand dollars gone in a flash......... then i set rules absolutely no holding over the weekend and no letting legitimate winners become loosers....and i started over with 3200 bucks

this system produces a 10-20 pip winner almost every time on the 1hr chart.......in my testing ive really not had a single loss....but yes ive missed some runs by closing at +2 or +1.....huge runs ......but thats trading.....
  • #2,786
  • May 17, 2011 1:52am May 17, 2011 1:52am
Where I marked R is where I believed resistance on the way up was, that resistance then turned into support as the price bounced off it twice. We then had a period of congestion as the market having failed to break thru the resistance convincingly started going up and giving us a long tdi signal - at least that is the way I saw it.
  • #2,787
  • May 17, 2011 1:52am May 17, 2011 1:52am
Been testing this system for about the past 10 days with good results, in fact it's by far the best I have come accross in 3 years. However, I am a little confused about entry timings. I tend to fire up MT at 07:15 to 07:20 when I get to the office (UK time) and enter a trade if it looks right. But often have to wait for ages before the move eventually goes into profit, yesterday for instance, it took almost the whole of the London session to get there.
Do you guys enter only on the formation of the new 1hr or 4hr candle? I think this may be where I can improve.

Hope you feel better soon eel

GG
Now trading live
  • #2,788
  • May 17, 2011 2:18am May 17, 2011 2:18am
Quoting silversurfer
Where I marked R is where I believed resistance on the way up was, that resistance then turned into support as the price bounced off it twice. We then had a period of congestion as the market having failed to break thru the resistance convincingly started going up and giving us a long tdi signal - at least that is the way I saw it.
Yep.....I can totally see what you are saying. Thats actually how I am interpreting the S/R levels. This is what I find fascinating about trading. You saw exactly the same levels of S and R, and the fact they hadnt broken back down through R you took it as a sign to get in.....where as I took them as a sign to stay away. Good example of how two people will always have a different result. Thanks for your thoughts. Well done on the trade.
  • #2,789
  • May 17, 2011 2:24am May 17, 2011 2:24am
15m 1hr 4hr
Quoting Gg33
Been testing this system for about the past 10 days with good results, in fact it's by far the best I have come accross in 3 years. However, I am a little confused about entry timings. I tend to fire up MT at 07:15 to 07:20 when I get to the office (UK time) and enter a trade if it looks right. But often have to wait for ages before the move eventually goes into profit, yesterday for instance, it took almost the whole of the London session to get there.
Do you guys enter only on the formation of the new 1hr or 4hr candle? I think this may be where...
enter at the tdi cross.......does not matter where you are

15m 1hr 4hr.....i like 1hrdont forget the 1 minute
  • #2,790
  • May 17, 2011 2:35am May 17, 2011 2:35am
just closed off 10pips on the cable and somehow lost 3 on euro
  • #2,791
  • Edited 3:02am May 17, 2011 2:41am | Edited 3:02am
Quoting hawaii5000

or as Big E most eloquently says - "I am slapping the crap out of the market and taking my daily withdrawal").
FOFL :-)
  • #2,792
  • May 17, 2011 3:05am May 17, 2011 3:05am
Quoting SnapCracklePip
no when you are leveraged at 50:1 you cannot treat this market as if your trading stock at 2:1 leverage........

when I got 50$ a pip on the line it is an absolute sin to let a 10 pip winner turn into a looser.....I understand what your saying if your trading for a hobby and make your living at a J...ust O....ver B....roke.......but this is how i make my living.......you cannot let a good winner turn into a looser...

if im up 10 pips thats 500 bucks....I cannot let that run back past zero.....ill take 100-200$ before it goes negative.......same...
Everyone has a different style. The right one is the one that works for you.

I appreciate hearing the opinions of traders who actually carve a living out of the market (even if they differ) ... and have done so for some time, with success.

Thanks for your post.
  • #2,793
  • May 17, 2011 3:23am May 17, 2011 3:23am
.
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Trade responsiblypatience is the key/Swing trader
  • #2,794
  • May 17, 2011 3:40am May 17, 2011 3:40am
GBPUSD up 46 pips. Think I'll close and keep...
  • #2,795
  • May 17, 2011 4:27am May 17, 2011 4:27am
Quoting GeraldFX
You can't unless you are the latest poster.
Bummer! Well that's another reason you have to read the whole thread! Thanks, Gerald.
Luck occurs when preparation meets with opportunity.
  • #2,796
  • May 17, 2011 4:29am May 17, 2011 4:29am
GU Closed for +60, USDCAD still short, just coming into profit. Almost done for the day.

GG
Now trading live
  • #2,797
  • May 17, 2011 4:29am May 17, 2011 4:29am
Quoting hawaii5000
This is entirely consistent with my testing and confirms why you don't need to beat yourself up for "missing" a trade when you look back over your charts (because it just did not look that way at the time). This phenomenum is not unique to this method of course. Almost anyone can validate lag indicator methods with retrospect.

A lesson I have taken away from this is that market momentum (i.e. trading the first four hours in London and New York in particular) is so critical to this method - especially for me as I only trade the 1H charts. This is when the (requisite) acute angles on the TDI become most obvious and reliable allowing for lower risk entries.

My own live results: I have been trading decent sized positions with the Big E's rules for the past few weeks and with proper regard to S/R and PA it works fantastically well. I have been comfortably making my 1% / 30 pip per day goal almost every day (or as Big E most eloquently says - "I am slapping the crap out of the market and taking my daily withdrawal"). This system has given me a much more confidence in terms of entry and exit triggers than anything else I have used and abused.

Any way - just my personal view.

P.S - Hope you are on the mend Big E.
Yeah! Get out that wheelbarrow!

That's great encouragement! I feel like I'm just a few steps behind you. Thanks Hawaii, and thanks again Big E (hope to see you back here soon!)
Luck occurs when preparation meets with opportunity.
  • #2,798
  • May 17, 2011 4:34am May 17, 2011 4:34am
Hi guys,

First of all I would like to thank Eelfranz for starting this thread and for sharring with us his wonderful system. I wish you all the best! Geat healthy soon. God bless you Eelfranz.

I just wanted to say that I have read the whole thread and almost the whole old thread. I am so impressed!!! I mean, in the beginning I was not really trusting the TDI for 100% because I normally don't use indicators but after so much days and live testing/trading I can't really belive how incredibly accurate the TDI /TMS is!!!

I like to use it on the 15 min chart and again from what I saw, I am speechless!
I think that the first thing we might do when trying to trade this way is really TRUSTING THE TDI/TMS! If all the rules are met, then we should jump into a trade! Just collect the pips, even if it 10 or 20 pips, it is still money!

Really, I can't stress enough this tool is so powerful, it will allow you to print money. lol

Have a nice day,
Mel
  • #2,799
  • May 17, 2011 4:42am May 17, 2011 4:42am
Quoting @mel
Hi guys,

First of all I would like to thank Eelfranz for starting this thread and for sharring with us his wonderful system. I wish you all the best! Geat healthy soon. God bless you Eelfranz.

I just wanted to say that I have read the whole thread and almost the whole old thread. I am so impressed!!! I mean, in the beginning I was not really trusting the TDI for 100% because I normally don't use indicators but after so much days and live testing/trading I can't really belive how incredibly accurate the TDI /TMS is!!!

I like to use it on the...

Mel - what is TMS? Do not recall seeing that term.
  • #2,800
  • May 17, 2011 4:49am May 17, 2011 4:49am
Quoting SnapCracklePip
15m 1hr 4hr


enter at the tdi cross.......does not matter where you are

15m 1hr 4hr.....i like 1hrdont forget the 1 minute
Hi Snap,

one question: do you only enter at the start of a new candle or right at the cross?

PS:
Does your above comment mean you also trade the TDI cross on the 1 minute??

Cheers,
Olarion
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