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Trading Made Simple

  • #3,461
  • May 22, 2011 11:27am May 22, 2011 11:27am
Quoting 2scoops
HA - basically all i'm saying is a TDI cross + good setup candle usually results in a good trade if we're careful with trend and S & R lines.

Weak candles really put me off the trade.

Set your own pip level on what you consider to be weak or strong is probably the best bet.
Thank you very much!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #3,462
  • May 22, 2011 11:36am May 22, 2011 11:36am
Quoting johnami
I have been trading BigE's 5M method for quite a while....
Yep.

Mea culpa :-)
Bah...
  • #3,463
  • May 22, 2011 11:48am May 22, 2011 11:48am
Quoting Olarion1975
Hi 2scoops,

I already use a trailing stop of 12 pips on the H1 timeframe. I move my stop of 50 pips to BE+3 after 15 pips and then start trailing. This takes care of Big E's rule that he exits when price pulls back for 10-15 pips.

Your ideas about setting the TP near s/r lines etc. is great. I do it myself, too.

PS:
After 15 pips I close about 1 out of 3 lots, 2nd lot at +30 pips and last lot when TDI gives an exit signal at the opening of the next candle.

Cheers,
Olarion
Hi,

Just want to ask,How do you move your stop loss to BE+3
Please share this with us.

Thanks.
It Is Well With My Soul..(Amen)
  • #3,464
  • May 22, 2011 11:57am May 22, 2011 11:57am
Quoting johnami
I have been trading BigE's 5M method for quite a while....
I agree with you, we have to be careful not to make this post a mix of indicators(as have many others). And lose the essence of the method. But I found this last indicator useful only for showing visually the concept of 12-02 (buy) and 4-6 (sell). However, the method remains the same.

Good pips.

  • #3,465
  • May 22, 2011 12:00pm May 22, 2011 12:00pm
Quoting babasemi
Hi,

Just want to ask,How do you move your stop loss to BE+3
Please share this with us.

Thanks.
yes I do that also, the main thing is to keep your SL fairly loose, give the trade breathing room
  • #3,466
  • May 22, 2011 12:05pm May 22, 2011 12:05pm
Quoting astom
I agree with you, we have to be careful not to make this post a mix of indicators(as have many others). And lose the essence of the method. But I found this last indicator useful only for showing visually the concept of 12-02 (buy) and 4-6 (sell). However, the method remains the same.

Good pips.

Yes I like that indicator its just an easier to judge TDI, so its fits in well with the TMS method - thanks for posting.

I do agree though that some posts on this thread have gone a little too far in complicating the method.
  • #3,467
  • May 22, 2011 12:06pm May 22, 2011 12:06pm
Quoting 2scoops
yes I do that also, the main thing is to keep your SL fairly loose, give the trade breathing room
@scoops
Yes, thats what am asking.
what do you use to move BE+3,is it an EA or what.

Thanks
It Is Well With My Soul..(Amen)
  • #3,468
  • May 22, 2011 12:18pm May 22, 2011 12:18pm
Quoting plamendp
"Slope: 3.2...
Wow thanks plamendp
  • #3,469
  • May 22, 2011 12:20pm May 22, 2011 12:20pm
I set my initial hard stop to a few pips above/below the previous low/high (same as BigE).

I don't automatically move my SL to BE, others use the swiss army knife ea to do this though. Sometimes I move my SL to BE + spread manually though not regularly.

I'm preferring to just use a trailing stop at the moment. I'm experimenting with a trailing stop of 25 on the 1HR and 45 on the 4HR. Seems to work well for me. Then a sensible TP just before the next area of S/R or trend line.
  • #3,470
  • May 22, 2011 12:23pm May 22, 2011 12:23pm
Quoting babasemi
Hi,

Just want to ask,How do you move your stop loss to BE+3
Please share this with us.

Thanks.
Hi babasemi,

I use the Multi-purpose trade management EA:
http://www.forexfactory.com/showthread.php?t=89371

Cheers,
Olarion
  • #3,471
  • May 22, 2011 12:32pm May 22, 2011 12:32pm
Quoting Olarion1975
Hi babasemi,

I use the Multi-purpose trade management EA:
http://www.forexfactory.com/showthread.php?t=89371

Cheers,
Olarion

Alright.
will check it out.
tnx
It Is Well With My Soul..(Amen)
  • #3,472
  • May 22, 2011 2:24pm May 22, 2011 2:24pm
Quoting Guitarbloke
Hi folk's,

Well, i've been here 3 night's, and up to page 55, so a way to go to catch up, but you know what? I'm really enjoying reading and learning about this method at my own pace. Taking my time so it all sinks in to my big boof head. I seriously suspect as a beginner, i've landed on a bloody good thread.

Hope you're feeling better there E man. Thank's everyone for sharing.

Good trading, G-bloke.
You are right, Bloke. This is a nice clean thread compared to most. . . . keeps on point, not a lot of back biting, and have the feeling that E is a really nice guy (hope you are getting better, E) and pretty much stays on topic (E's helpers are doing great job at this).

Speaking of going off topic (and since the market is closed at the moment) what kind of equipment do you play, Bloke? I have a fender strat, and my pride and joy, an accoustic Guild GAD 50.

Shakey
  • #3,473
  • May 22, 2011 3:11pm May 22, 2011 3:11pm
Quoting sleewc
How does the momentum look right now (12-2, 4-6)

Hi, Big E, or anyone, can explain to me regarding the momentum (12-2, 4-6)? thanks.
Steepness is just a way of judging momentum.

(You may already know this, apologies if I you are an old pro). The numbers, volumes and rapidity of the buy and sell orders going through the dealing desks are what drives the price up or down.

Indicators use various algorythmns to reflect this volume. If the volume is low, the sample size of the formula is too small to give an accurate reading on the indicator.

With most indies, the momentum is reflected by the steepness of line type indies (or height of histogram types). This is especially true of moving average indies. Most indies involve moving averages in some way shape or fashion (I think the TDI may be some variation of the RSI)

Indies are lagging at best, and the smaller the volume, the more lagging it is. Higher volume moves the lag up a little closer to real time.

If volume is small, nearly all indies that I know of are worthless, and even harmful.

This is why E and the gang keep talking about looking back at the size of the last few candles. Large Candle = high volume.

HHs, HLs . . . LHs LLs show direction, Engulfing (HH, LL), Inside Bars (LH, HL), pin bars, spin tops (long wicks) indicate hesitation, indecision and possible direction changes. This is what forms bar # one, along with the TDI steep cross.

These direction changes combined with Higher Volume (steeper TDI cross) gives your entry a good push towards being a profitable trade.

If you trade any indie system during low volume periods, you might as well just write a check and mail it to your broker.

Pardon me for stating the obvious to most of you.

(pardon me for being so long winded. The market is closed, I am bored. I got the trading monkey on my back, and he is using the whip)

Shake
  • #3,474
  • May 22, 2011 3:29pm May 22, 2011 3:29pm
Good explanation!!
  • #3,475
  • Edited 4:06pm May 22, 2011 4:00pm | Edited 4:06pm
Here is an example as I see it. This is not an actual trade... it is cherry picked.

See that there is a fake out. Hope this is clear and readable. Please give any input, observations, or errors I may have made.

Shake

UH Oh! The text at the top should read "Higher Highs HIGHER Lows" Sorry
Attached Image (click to enlarge)
Click to Enlarge Name: tdi cross anatomy.gif Size: 44 KB
  • #3,476
  • May 22, 2011 4:42pm May 22, 2011 4:42pm
Quoting Beshakey
Here is an example as I see it. This is not an actual trade... it is cherry picked.

See that there is a fake out. Hope this is clear and readable. Please give any input, observations, or errors I may have made.

Shake

UH Oh! The text at the top should read "Higher Highs HIGHER Lows" Sorry
Nice chart
FF journal: Peaks and Troffs
  • #3,477
  • Edited 5:10pm May 22, 2011 5:06pm | Edited 5:10pm
I just entered a Sell with the A/$ on the 17:00 CDT candle. Looks goog except the #1 candle is weak (<10pips) but everything else says "sell" - so I did!
edit: and while I was typing this msg my TP of 10 pips was hit. I intend to demo all of this week using almost a scalp frame of mind: 10 pip TP and a 30 pip SL (in case of internet interruptions) but in actuality I wouldn't let it lose more than 10 pips.
  • #3,478
  • May 22, 2011 5:21pm May 22, 2011 5:21pm
Quoting fiore
Hey, guys,
Are we going to be sharing live/real-time trade setups here as we see them, both to alert each other of possible trades, as well as to get others inputs as to the validity of the setup we're seeing?

Or would this clutter up the thread too much and/or be counter-productive?

The reason I ask is because I tried the method on Friday, but ended up with loss after loss (I suck!), and noticed several other people reporting successful trades on Friday....
I was thinking of maybe a off forum live chatroom unless Forexfactory has one, where we could share that kind of info, fast!

My 2 cents.

IL-Z
“Control, control, you must learn control!” - Yoda
  • #3,479
  • May 22, 2011 5:21pm May 22, 2011 5:21pm
Quoting astom
For the understanding of all, I did this to illustrate better. And if you have doubts, there is the Trendline By Angle Tool (that probably, will not use more it from the third trade). And always are talking about the green line direction.

=)
I was trying to calculate the degrees myself with a clock face.
Great job Astom. Much appreciated.
From 30-90 degrees a buy
and 330-270 degrees a sell

At last, that Trendline By Angle Tool is good for something.
  • #3,480
  • May 22, 2011 5:22pm May 22, 2011 5:22pm
I should add a little more info to the above trade: sell @ 1.0647 & TP of 10 pips, 1.06370, was hit in just 4 minutes on the 1H TF. The 4H TF is definately weaking as was the 1H. I usually monitor an open trade and should be able to get more than 10 pips as I won't be messaging here when a trade is open. Thanks to all for the input and I hope BigE will get better and rejoin us soon.
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