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Trading Made Simple

  • #2,881
  • May 17, 2011 1:09pm May 17, 2011 1:09pm
Quoting XxLessoxX
im in with you....stay sharp approaching resistance
prices stalling.....london closing. plus 134 pips for today.....nice
  • #2,882
  • May 17, 2011 1:16pm May 17, 2011 1:16pm
Quoting XxLessoxX
im in with you....stay sharp approaching resistance
  • #2,883
  • May 17, 2011 1:20pm May 17, 2011 1:20pm
Quoting pete123
Hi mackaozy, I have scoured the FF for more than a year looking for a simple method to trade. Came across many which looked like the real deal, but alas, did not fit my style. Most had just too many indicators and more rules. I am, as many on this thread, greatful to eelfranz for starting and sharing his knowledge with us. I have traded on demo for the past week and a half and what a pleasure it has been. I will be going live soon. Will post charts as soon as I can figure out how.
[font=Comic Sans MS][size=3]Good...
Hi. Yep that was the story with me. I was trading on 15m and also scalping on 1min and 5min using the THV...far too stressful and it never seemed to work for me. I have been in and out of Forex for 5 years, but only now it has it come together. Everything has just clicked. Good trading - I recommend going live with this method even if it's just a small account. Hopefully we can all help each other on this thread.
  • #2,884
  • May 17, 2011 1:53pm May 17, 2011 1:53pm
VERY Nice!

Quoting XxLessoxX
prices stalling.....london closing. plus 134 pips for today.....nice
Read the entire thread BEFORE you ask questions!
  • #2,885
  • May 17, 2011 1:58pm May 17, 2011 1:58pm
Snarlyjack,

Which broker do you use.. meaning which time zone?

I'm currently using SmartLive which is gmt+2 in summer, on 1hr, but thinking i maybe better switching to 4hr.

And would like to be on the same candles.
  • #2,886
  • May 17, 2011 2:35pm May 17, 2011 2:35pm
Quoting Chillypiper
Looking like a nice setup after a pullback for a few pipers north....
Welp, my counter trend trade went south for 5 pipers.TDI went flat so now so am I. Check bk later..
Happy pipen!
  • #2,887
  • May 17, 2011 2:36pm May 17, 2011 2:36pm
Daily sell signal first candle, EU/US Daily buy comming when this happens, corellation play.
  • #2,888
  • May 17, 2011 2:58pm May 17, 2011 2:58pm
Quoting mackaozy
Template attached.
could you post your pipware stoch indicator?
  • #2,889
  • May 17, 2011 4:10pm May 17, 2011 4:10pm
Buy EURJPY - Day: in attachment the entry

EURUSD Day is not clear enough imo - TDI pointing at 2-3 o'clock
GBPUSD Day: TDI crossed, but the candle is very small, so I'm staying out this one

Off to barcelona!
Attached Image (click to enlarge)
Click to Enlarge Name: EN003.jpg Size: 146 KB
  • #2,890
  • May 17, 2011 4:30pm May 17, 2011 4:30pm
Quoting Diego
Buy EURJPY - Day: in attachment the entry

EURUSD Day is not clear enough imo - TDI pointing at 2-3 o'clock
GBPUSD Day: TDI crossed, but the candle is very small, so I'm staying out this one

Off to barcelona!
Looks like a valid entry Diego. Good luck, but if it were me I'd have a stop loss below the last bounce....Treat your demo the same as it's real and protecting your capital is HUGE!

Cherrs!
Chilly
  • #2,891
  • May 17, 2011 5:13pm May 17, 2011 5:13pm
4 trades taken on the daily time frame... Still in demo mode.

eur/jpy @ 115.998 sl 113.403
eur/usd @ 1.42368 sl 1.40478
eur/gbp @ .87633 sl .86724
usd/chf @ .88014 sl .88053

Wonder how these will play out. A couple I may not have taken if this was really real money, but since it isn't... Lets see how it rides.
  • #2,892
  • May 17, 2011 5:23pm May 17, 2011 5:23pm
Quoting Diego
Buy EURJPY - Day: in attachment the entry

EURUSD Day is not clear enough imo - TDI pointing at 2-3 o'clock
GBPUSD Day: TDI crossed, but the candle is very small, so I'm staying out this one

Off to barcelona!
Valid entry there as far as I see it. I'm long.
  • #2,893
  • May 17, 2011 7:19pm May 17, 2011 7:19pm
Quoting mackaozy
lol I know. I'm kicking myself a little bit, but considering my daily target when I get to trade is 2% per day I decided to exit. I can trade 9 days a month and my monthly target is 10%. So I exited due to my money management rules to stop myself from over trading.

I'm trying to find a balance between cutting losses and letting profits run. The only problem I'm having is a psychological one on exits.

If anyone has any strategies they use to cope with this please post them!
Same damn problem!! this is why I would like to come up with a set SL and TP so I can have set and forget trades to avoid my input on exiting.
  • #2,894
  • May 17, 2011 8:44pm May 17, 2011 8:44pm
Dean - why not use a Stop + TTO order then you have both ends of the trade covered?
  • #2,895
  • May 17, 2011 8:50pm May 17, 2011 8:50pm
Jikkie,

I use IBFX out of SaltLake City, Ut.

The daily closes/opens a new candle at 6:00 p.m.

The 4 hour chart opens a new candle at 2:00 a.m., 6:00 a.m.,
10:00 a.m., 2:00 p.m., 6:00 p.m. and at 10:00 p.m.

I have never had any problems with IBFX and they have
been most helpful.

tks

mike
  • #2,896
  • May 17, 2011 9:01pm May 17, 2011 9:01pm
Quoting dean
Same damn problem!! this is why I would like to come up with a set SL and TP so I can have set and forget trades to avoid my input on exiting.
dean, why not set your stop loss at the last high or low of the last few bars, and set the tp at an equal distance from entry. gives 1:1 rr. but coupled with a high probability strategy it can actually give a much better rr ratio. I tend to exit on the tdi now but since you want set and forget, its not a bad idea.
  • #2,897
  • May 17, 2011 9:15pm May 17, 2011 9:15pm
Quoting XxLessoxX
dean, why not set your stop loss at the last high or low of the last few bars, and set the tp at an equal distance from entry. gives 1:1 rr. but coupled with a high probability strategy it can actually give a much better rr ratio. I tend to exit on the tdi now but since you want set and forget, its not a bad idea.
I concur. And use the "Swiss Army EA" that one of the followers, I think it was SnapCracklePip, posted the other day to make it a safe trade. Breakeven automatically moves to +1 when you're in 25 pips of profit and let it run. Set it and forget it basically.
  • #2,898
  • May 17, 2011 9:20pm May 17, 2011 9:20pm
Dean ,

i would sugest you use a 5 EMA on a close along with the existing 5 ema on a shift 2. This creates a channel, when the channel closes exit ( or when PA crosses back over) either way you have a clear exit


Quoting dean
Same damn problem!! this is why I would like to come up with a set SL and TP so I can have set and forget trades to avoid my input on exiting.
  • #2,899
  • May 17, 2011 9:20pm May 17, 2011 9:20pm
Snarlyjack, I think you posted your success rate each night is 75%. I was wondering, maybe by using an EA to move your trade to breakeven or +1 when you're in profit would increase your success rate? Since you set your trades and won't check on them for eight hours later, maybe this helps?
  • #2,900
  • May 17, 2011 9:43pm May 17, 2011 9:43pm
Hey Snarly

Do you have any way of contacting E or his family? We are all so worried about him and how he is doing.

Posting our good wishes and prayers for him here is a good thing, but somehow it just doesn't seem enough. Is there a way for us to send cards and letters?

Mary
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