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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #4,581
  • Jun 2, 2011 11:31am Jun 2, 2011 11:31am
[quote=Juls;4650067][quote=Juls;4647174]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.

WEEK 2 UPDATE....
2 TRADES TAKEN THIS MORNING AND UNFORTUNATELY THEY BOTH LOST.
TOTAL = -1 PIP FOR THE WEEK.......

WEEK 3......
170 PIPS PROFIT THIS WEEK, I DID NOT TRADE MONDAY AS THERE WAS NOT ANY DECENT SET UPS (IN MY EYES) AND OBVIOUSLY I WILL NOT BE TRADING TOMORROW...

ALL THE BEST,
JULS.
  • #4,582
  • Jun 2, 2011 11:37am Jun 2, 2011 11:37am
Quoting Chillypiper
Great list 2Scoops. I could not replace any with my notes. The only thing I would add (at entry) would be to check your news events, but that would make it 6 things and technically not part of the system.

But I wouldn't say I am successful yet ether 50% W/L form over trading. Witch isn't bad if I can make the winners bigger ones. I believe and need to stay with in 'No more than 1 or 2 trades a day' personally.

Cheers
I agree with that, you should cherry pick the best, don't beat yourself up when you see good trades go by that looked iffy at the start. Ones that look perfect(ish) at the start will come along and be good trades (usually).
  • #4,583
  • Jun 2, 2011 11:44am Jun 2, 2011 11:44am
Quoting Browserguy
Regarding your first question, I asked something similar but did not get a reply. The way I see it Eelfranz is basically placing his bets, going to bed, and letting his trades slide into the London open sight unseen. His late night check is then to ensure his trades are staying the course and weren't adversely affected by the open. I think his close is actually around the time of the NY open, give or take. I know his colleague Snarlyjack places his bets and doesn't look again until he's home from work (8-9hours). His mentions his success rate at...
Hi Browserguy,

According to Big E's post he has his alarm set for 5:50am Pacific to close out his trades which I believe is 8:50am EST. Which means it's after the NY open and the major news like non-farm or unemployment has just happened. So I'm curious what he does on those major news days or if it matters.

Being able to make my own candle start times is just something I can do with OmniTrader by adjusting the exchange start and end times for the symbols.

This is a very interesting system. And I don't even mind messing with my sleep patterns if the rewards are there. It's just a case of getting my platform setup so I'm looking at with they are to start my training.
  • #4,584
  • Jun 2, 2011 12:25pm Jun 2, 2011 12:25pm
someone else?
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  • #4,585
  • Jun 2, 2011 12:35pm Jun 2, 2011 12:35pm
Quoting Chillypiper
Great list 2Scoops. I could not replace any with my notes. The only thing I would add (at entry) would be to check your news events, but that would make it 6 things and technically not part of the system.

But I wouldn't say I am successful yet ether 50% W/L form over trading. Witch isn't bad if I can make the winners bigger ones. I believe and need to stay with in 'No more than 1 or 2 trades a day' personally.

Cheers
One more thing I might mention is to take a quick look at the volume and time of day. I know for me trading between 3:30 P.M. and 6:00 P.M. CT in Chicago there is not much going on and there are much larger spreads to deal with.
  • #4,586
  • Jun 2, 2011 12:52pm Jun 2, 2011 12:52pm
Quoting Danyjoe
someone else?
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  • #4,587
  • Jun 2, 2011 1:04pm Jun 2, 2011 1:04pm
Quoting Rigby1127
One more thing I might mention is to take a quick look at the volume and time of day. I know for me trading between 3:30 P.M. and 6:00 P.M. CT in Chicago there is not much going on and there are much larger spreads to deal with.
I'm not speaking for 2scoops but I agree but it is covered in his 5 point check list, by not entering at consolidation witch is usually from 12PM-5PM Pacific IMO.

Cheers!
  • #4,588
  • Edited 1:25pm Jun 2, 2011 1:13pm | Edited 1:25pm
Quoting Danyjoe
someone else?
Yes! I think this is a very low risk trade with major resistance at the .9800 and Oil is back on the rize. I wont get my 4h for another 2.75hr's on the usdcad.

Good luck!
  • #4,589
  • Jun 2, 2011 1:28pm Jun 2, 2011 1:28pm
Quoting Chillypiper
I'm not speaking for 2scoops but I agree but it is covered in his 5 point check list, by not entering at consolidation witch is usually from 12PM-5PM Pacific IMO.

Cheers!
Good point.
  • #4,590
  • Jun 2, 2011 1:30pm Jun 2, 2011 1:30pm
Quoting Chillypiper
Yes! I think this is a very low risk trade with major resistance at the .9800 and Oil is back on the rize. I wont get my 4h for another 2.75hr's on the usdcad.

Good luck!
yes, but today not seems great day.. (European time)
everything seems to side.. except for some bounce
maybe for bank holidays
  • #4,591
  • Jun 2, 2011 1:47pm Jun 2, 2011 1:47pm
Quoting Lain
Hi Browserguy,

According to Big E's post he has his alarm set for 5:50am Pacific to close out his trades which I believe is 8:50am EST. Which means it's after the NY open and the major news like non-farm or unemployment has just happened. So I'm curious what he does on those major news days or if it matters...
This issue came up so many times throughout this thread and Big E had replied to this subject tons of time. Make an effort and read the entire thread. Stop being lazy!
  • #4,592
  • Jun 2, 2011 1:48pm Jun 2, 2011 1:48pm
Quoting Danyjoe
someone else?
Yes, I am in it also, short on the 4hr.
  • #4,593
  • Jun 2, 2011 1:59pm Jun 2, 2011 1:59pm
The only trade for today was eurchf. Managed to CLOSE @ 27 pips profit
TOTAL PIPS FOR THE WEEK and month= 224 pips with no loss yet.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #4,594
  • Jun 2, 2011 2:06pm Jun 2, 2011 2:06pm
Quoting Danyjoe
someone else?
Yes, I'm in too!
  • #4,595
  • Jun 2, 2011 2:15pm Jun 2, 2011 2:15pm
Quoting Danyjoe
yes, but today not seems great day.. (European time)
everything seems to side.. except for some bounce
maybe for bank holidays
Yeep, but some good movement in the NY market today. I'll a eye on it on my 4hr tf for my new candle in less than 2hrs and move to BE if willing. Keep in mind I entered on a 1hr set up (tdi is flatening) with not much
happing as you stated.

also. nice rejection candle (reversal indication) but needs do brake that .0975 area
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  • #4,596
  • Jun 2, 2011 2:36pm Jun 2, 2011 2:36pm
Quoting sivi
Yes, I'm in too!
Hi, can you tell me what price you entered at? I entered 1.0615 and seem to be suffering a "nice" loss!
  • #4,597
  • Edited 2:57pm Jun 2, 2011 2:44pm | Edited 2:57pm
Quoting ndhoanggia
This issue came up so many times throughout this thread and Big E had replied to this subject tons of time. Make an effort and read the entire thread. Stop being lazy!
Hi ndhoanggia,

Sorry didn't mean to offend you. I'm not being lazy. I only came across this thread 2 days ago. I'm reading every post from the beginning and I'm on page 63. But there's over 300 pages so I'm doing my best to catch up.
I wanted to get my platform setup so I can follow along with recent charts while reading the old posts and was just hopeing to get a bit of help from the pros with a few questions I haven't seen answers too upto page 63.
So far I've seen he quits trading at 9am EST and doesn't like red flagged news and doesn't trade before news time but he also said that he doesn't worry about news too much on 4hr charts. But I haven't seen how he handles his current 4hr trades (opened 4 or 8hrs ago) when there's red flagged news between 8am and 9am EST, if he wakes up early or just leaves it.
I even did a search with his name and the keyword "news' but couldn't see a clear answer.
Don't worry I'm definately making an effort.

Again sorry if you took offence to my question.

Hopefully there's someone else that doesn't mind helping me with a few questions while I play catchup with this fast moving thread.
It's a very interesting trading system.

Lain
  • #4,598
  • Jun 2, 2011 2:53pm Jun 2, 2011 2:53pm
Quoting Wbm
Hi, can you tell me what price you entered at? I entered 1.0615 and seem to be suffering a "nice" loss!
Hi Wbm! USD/CAD short on the 4H at 0.97645 . Perhaps you are referring to AUD/USD but it is not my trade.
(sorry for my bad english...I'm italian)
  • #4,599
  • Jun 2, 2011 3:45pm Jun 2, 2011 3:45pm
Quoting adeforex
The only trade for today was eurchf. Managed to CLOSE @ 27 pips profit
TOTAL PIPS FOR THE WEEK and month= 224 pips with no loss yet.
Grats mate Very nice!

Today I am even: no trades, no winners, no loosers.. peace
Bah...
  • #4,600
  • Jun 2, 2011 4:04pm Jun 2, 2011 4:04pm
Quoting plamendp
Grats mate Very nice!

Today I am even: no trades, no winners, no loosers.. peace
No losers is a very good thing!
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