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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #4,001
  • May 26, 2011 9:31am May 26, 2011 9:31am
XxLessorxX:

Well said! Completely agree with you!

Adong
  • #4,002
  • May 26, 2011 9:35am May 26, 2011 9:35am
usd/ch daily from tonight. going my way. SL moved to BE+2. target 100pips
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  • #4,003
  • May 26, 2011 9:45am May 26, 2011 9:45am
Quoting peterporter
Hiya Hicomm

Unfortunately my MT4 build is Version 4 Build 229 and my broker has no intention to upgrade yet
I get a crash with your compiled version which I think you have created for a later version of MT4
would it be possible for you to either compile a version for my MT4 (alpari) or send me the source so I can compile
Ta
Peter
This is the mq4 file. I guess this would work out just fine.
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  • #4,004
  • May 26, 2011 9:51am May 26, 2011 9:51am
Quoting 2scoops
What I gathered from BigE is that he doesn't use a trailing stop. He monitors the trades early on and if they pull back 12-15 pips in this period he exits. Or if the trade has moved up his way (say 35 pips) he sets his SL at BE + spread and lets the trade ride and calls it a night. Then he checks the trade 4HRs later (perhaps midway through the candle sometimes if he's on a toilet break). I could never really get on with this method - seems to me if your doing this you might as well wait till the 5min/15min charts are looking good to avoid the 15...
2scoops,
I have the same issue as you of having limited time to trade. The thread is so damn long to find if you have posted how you trade this method. And if you did I do not recall (sorry about that). Thus, I wonder if you can point out your approach to overcome time difficulties? Timeframes, SL, TP, MM, Entry and Exit points, or any other detail you could think about.

I'm still struggling to find that technique that allows me to trade with time restrictions.

This would be extremely appreciated.

Cheers
  • #4,005
  • May 26, 2011 10:09am May 26, 2011 10:09am
The AU is up about 18 at the end of the 0400 GMT bar. I looked at the 1hr, and saw a signal showing opposite direction. Decided to close. Just as well, it was still hovering around breakeven at around 1100 GMT last time I looked.

On the EG, was up about 20 or so. By closing the AU with profit, I moved stop to around breakeven to ensure at least SOME profit overnight (using one trade to hedge another)

At around 1100 GMT the EG was still around the same level. I went ahead and closed it for around 15 pips. It had used its Average Daily Range, and besides, it's about time for the US whales to change the direction and take our money.

Tonights take, about 35 pips. Not a great night, but not my worst either.
Beshakey,

Thanks for your input. Untainted newbie here without any bias or bad habits looking to adopt Eelfranz's system to the letter. Keenly interested in those trying the 4hr method without constant vigilance as you just did.

East coaster trying to come to grips with the 4hr candle times on FXDD. Heard IBFX does it 1 hour earlier but also heard they are a cheat.

Thanks again!
  • #4,006
  • Edited 10:28am May 26, 2011 10:17am | Edited 10:28am
I wonder if anybody didn't see these tradings , or are we tired of posting? anyway, i am very comfortable trading bounce.
ALL MY TARGET PROFIT/STOP LOSS ARE AROUND 50-60 PIPS as am comfortable with that.
3 trades today
2 won for around 110 pips (GJ and EJ)
GU entered about 1 hour ago
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We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #4,007
  • May 26, 2011 10:25am May 26, 2011 10:25am
Quoting Aussie_fx
Do you use a 10-15 trailing as well like big E (question to XxLessoxX)?

Does anyone wait for the last swing high/low on M5 to be taken out before entering?
again it depends. trailing stops need to be bigger than that i think on larger tf's. but i dont think big e uses them. at least i remember him saying he doesnt. if i am around a pivot or round number i will use limit orders around the swings
  • #4,008
  • Edited 10:46am May 26, 2011 10:36am | Edited 10:46am
Sorry I am being a bit lazy
On page 1 ellfranz says he CLOSES ALL TRADES at around 6.00 am Pacific Time

Now if we are using the rule for example of "exit when the TDI goes flat" and we are on 4H , which rule is more important ???
Close all trades at 600am or go flat , sounds like close all trades is more as he underlines it like is a set rule.

I have a basket of trades for example all based on this great system and am up 200 pips just today alone
So the basket is good for me yeh, so, I can treat this as one big trade and set an EA to close all trades when the actual pip profit goes below ie 150 pips , and this will adhere to the rule also of closing out all trades for the day.
It just gives it a fighting chance to get more before I close
What do you all think about this way of playing
  • #4,009
  • May 26, 2011 10:45am May 26, 2011 10:45am
Live trade :-)
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  • #4,010
  • May 26, 2011 10:50am May 26, 2011 10:50am
Quoting adeforex
I wonder if anybody didn't see these tradings , or are we tired of posting? anyway, i am very comfortable trading bounce.
ALL MY TARGET PROFIT/STOP LOSS ARE AROUND 50-60 PIPS as am comfortable with that.
3 trades today
2 won for around 110 pips (GJ and EJ)
GU entered about 1 hour ago
sorry probably I have old indicators, can you post yours?
or where i can find those?
thanks
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  • #4,011
  • May 26, 2011 11:23am May 26, 2011 11:23am
Quoting cfabian
2scoops,
I have the same issue as you of having limited time to trade. The thread is so damn long to find if you have posted how you trade this method. And if you did I do not recall (sorry about that). Thus, I wonder if you can point out your approach to overcome time difficulties? Timeframes, SL, TP, MM, Entry and Exit points, or any other detail you could think about.

I'm still struggling to find that technique that allows me to trade with time restrictions.

This would be extremely appreciated.

Cheers
I can only trade the 4HR and the daily at the moment. The 1HR TF is impossible to trade for me while I'm at work and I don't trade at all after the London close (following BigE's advice).

I check the 6AM GMT 4HR candle before leaving for work, and then the 10AM and 2PM candles using logmein (on my coffee break).

My main problem is I might see a setup that is almost right, maybe stochastics is wrong or the candle is slightly on the weak side, or the angle not quite there...yet etc.

I'd like to be able to keep an eye on these trades, monitor them for a little while before pulling the trigger, but I don't have that luxury.

I can only check quickly and get back to work. I could gamble on the "iffy" ones (but usually you get burned doing this) or I could pass on the trade. Most of the time I stick to the rules and pass but this means I don't take many trades.

What I'm hoping for is we can get an email alert for the TDI that tells you when a cross has occurred but only when its at the correct angle. This way I could target my trading time better at work. I know there's a TDI that alerts when crosses happen but I've not seen one yet that filters the alerts based on an angle setting.
  • #4,012
  • May 26, 2011 11:44am May 26, 2011 11:44am
Hello everyone,
As promised i thought i would let you all know how i am getting on using this system.
I am trading this as big E trades, 4hr tf and during the london session.
I set a stop loss at 100 pips and then only check my trades every 4hrs.
If any of the trades are above 55 pips when checking i will close them for profit, this is the only change i have made...

WEEK 1
304 PIPS PROFIT (THIS WAS INCLUDING LOSSES)

WEEK2
MARKET HAS BEEN DEAD THIS WEEK, SO FAR 34 PIPS PROFIT.

This is a live account and i hope this helps someone.....
Juls.
  • #4,013
  • May 26, 2011 11:51am May 26, 2011 11:51am
Quoting Juls
Hello everyone,
As promised i thought i would let you all know how i am getting on using this system.
I am trading this as big E trades, 4hr tf and during the london session.
I set a stop loss at 100 pips and then only check my trades every 4hrs.
If any of the trades are above 55 pips when checking i will close them for profit, this is the only change i have made...

WEEK 1
304 PIPS PROFIT (THIS WAS INCLUDING LOSSES)

WEEK2
MARKET HAS BEEN DEAD THIS WEEK, SO FAR 34 PIPS PROFIT.

This is a live account and i hope this helps someone.....
Juls.
Very good profit for stress free trading Can I ask what pairs you watch? Do you close your losers as well at the close of London?
  • #4,014
  • May 26, 2011 11:53am May 26, 2011 11:53am
I trade the same 8 charts as big E suggested and yes i close all trades just before US open, same rules found on page 1 by big E...
Juls.
  • #4,015
  • May 26, 2011 11:57am May 26, 2011 11:57am
Quoting Juls
I trade the same 8 charts as big E suggested and yes i close all trades just before US open, same rules found on page 1 by big E...
Juls.
TY
  • #4,016
  • May 26, 2011 12:36pm May 26, 2011 12:36pm
Quoting Juls
I trade the same 8 charts as big E suggested and yes i close all trades just before US open, same rules found on page 1 by big E...
Juls.
hello what are the 8 charts?
and why only before US open?
  • #4,017
  • May 26, 2011 12:52pm May 26, 2011 12:52pm
Quoting Danyjoe
sorry probably I have old indicators, can you post yours?
or where i can find those?
thanks
you dont have old indicators. I m using xaphods' versions. Anyway they are all bounce trades. You can see even from your chats.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #4,018
  • May 26, 2011 12:59pm May 26, 2011 12:59pm
i Just close my GU long manually for 30 pips. I want to shut down my system, this brings my total pips for today to be around 140 on 3 trades.
Tommorrow is another day here.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #4,019
  • May 26, 2011 1:36pm May 26, 2011 1:36pm
Quote
Hello everyone,
As promised i thought i would let you all know how i am getting on using this system.
I am trading this as big E trades, 4hr tf and during the london session.
I set a stop loss at 100 pips and then only check my trades every 4hrs.
If any of the trades are above 55 pips when checking i will close them for profit, this is the only change i have made...

WEEK 1
304 PIPS PROFIT (THIS WAS INCLUDING LOSSES)

WEEK2
MARKET HAS BEEN DEAD THIS WEEK, SO FAR 34 PIPS PROFIT.

This is a live account and i hope this helps someone.....
Juls.


Thanks, Juls

Live testing results using E's methodology to the letter is where I'm most interested.

If I may ask, what percentage of the trades fell under the following-

1-Carried all the way to the NY session open (3 total candles)
2-TP at the middle candle
3-Took loss at middle candle due to tweaking/reversing TDI

Thanks!
  • #4,020
  • May 26, 2011 2:28pm May 26, 2011 2:28pm
Quoting Danyjoe
hello what are the 8 charts?
and why only before US open?
You really need to read the thread before asking questions that are answered and explained in the thread.
Read the entire thread BEFORE you ask questions!
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