Trading Made Simple | Page 236 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #4,701
  • Jun 4, 2011 5:10am Jun 4, 2011 5:10am
Quoting snarlyjack
Drifter,

I made $184.00 today (184 pips = $1.00 per pip) on three
different contracts on the 4 hour chart using Eelfranz method
of tdi plus 5ema shift +2. No big deal. Set your trades and
take a nap and quit watching every pip move.

Roterio,

My take profit is at approximately $100.00 give or take depending
on how the market is looking. Also if the tdi green line starts
to flatten out on you = 3:00 direction, take profits.

Today the eur/usd was really making a move so I held longer
because of the volitility in the market....

Hi Snarlyjack,

I'm a little bit confused now. The ema 5 shift you have on +2, but I thought Big E has it on +3. Or that doesn't really matter a lot??
  • #4,702
  • Jun 4, 2011 5:34am Jun 4, 2011 5:34am
Quoting Canialegui
Hi Snarlyjack,

I'm a little bit confused now. The ema 5 shift you have on +2, but I thought Big E has it on +3. Or that doesn't really matter a lot??

It does not really matter .
I know how its a pain in the arse to read the whole thread to find these things

Anyone here who says " Read the thread and dont be lazy" has to realize that alot of threads comments have diddley squat info in them

As long as the questions asked are relevent to the strategy and not fx basics like " what is an MA ??" then dont be afraid to ask

By the way the "dont be afraid to ask" has been mentioned before if people would have been bothered to read the thread.
  • #4,703
  • Jun 4, 2011 6:01am Jun 4, 2011 6:01am
Quoting snarlyjack
Drifter,

I made $184.00 today (184 pips = $1.00 per pip) on three
different contracts on the 4 hour chart using Eelfranz method
of tdi plus 5ema shift +2. No big deal. Set your trades and
take a nap and quit watching every pip move.
Thanks Snarlyjack,

Im definitely going to try to set and forget from now on. easier said than done for me, ive spent the last 3 or 4 years watching every movement on the M1 and M5 charts.

What do you use the 5ema for?? I know its on the chart but i didnt see any rules for it. Do you look at stochs as well?

One more question for you, what would you consider suficient 'room to move' for H4 trades.

Thanks for the advice
  • #4,704
  • Jun 4, 2011 6:22am Jun 4, 2011 6:22am
Quoting peterporter
Anyone here who says " Read the thread and dont be lazy" has to realize that alot of threads comments have diddley squat info in them
Very much agreed on this. thats what makes a good thread, lots of questions and affirmation

Also keep in mind that new comers to thread may not have had the time to get through the whole thing but still want to have a crack at trading
  • #4,705
  • Jun 4, 2011 6:28am Jun 4, 2011 6:28am
Quoting peterporter
It does not really matter .
I know how its a pain in the arse to read the whole thread to find these things

Anyone here who says " Read the thread and dont be lazy" has to realize that alot of threads comments have diddley squat info in them

As long as the questions asked are relevent to the strategy and not fx basics like " what is an MA ??" then dont be afraid to ask

By the way the "dont be afraid to ask" has been mentioned before if people would have been bothered to read the thread.
Thanks for this post, I agree, after 300 pages of reading you aren't necessarily going to remember everything you just read.
  • #4,706
  • Jun 4, 2011 6:35am Jun 4, 2011 6:35am
I believe that if we repeat the same things we go out tread
the first page there is already more than enough to understand all
i think we must use the tread to discuss the trades or new observations.
I have been here for 2 weeks and I guarantee to new members that one week(if you are serious) is more than enough to get all the info, to backtest, to learn, make mistakes, learn, make mistakes and learn ..

let us help to put into action and making pips .. and not to repeat things already explained in the manual.

thanks
  • #4,707
  • Jun 4, 2011 6:46am Jun 4, 2011 6:46am
Quoting Danyjoe
I believe that if we repeat the same things we go out tread
the first page there is already more than enough to understand all
i think we must use the tread to discuss the trades or new observations.
I have been here for 2 weeks and I guarantee to new members that one week(if you are serious) is more than enough to get all the info, to backtest, to learn, make mistakes, learn, make mistakes and learn ..

let us help to put into action and making pips .. and not to repeat things already explained in the manual....
Quite true
normally the first page (in fact the first post has all the info to get started trading then whilst you are "losing your money haha " you can read other info , alot of the threads have all the beefy info or links, attachments put on the first thread like that for that whole reason .
its the only way ....
(Joking about the losing money bit)

So lets assume that and get on with the development , refinement , comparison , improvment , observations of this already great strategy as of now
  • #4,708
  • Jun 4, 2011 6:52am Jun 4, 2011 6:52am
Ok, so my interpretation of this method includes using 30,50 and 100 sma (close) on the charts to determine clear trends and then cycling from weekly down to hourly to look for the trades that are only going in the direction of the main trend (usdchf is a good pair right now). A lot of the trades posted in the thread seem to be trading in both directions. Does determining the main trend on higher time frames make sense to anyone else?
  • #4,709
  • Jun 4, 2011 6:59am Jun 4, 2011 6:59am
Hi E,
One of the things you said you look at before entering the trade is the position of the last swing hi/lo. Is this so you don't go long at the top of a swing hi and short at swing lo (ie it acts as support or res)???

You also said to look at the size of the reversal, what does the size of the reversal tell you??

what are you looking for in the size of the last reversal? (number of candles??)

Thanks,

David
  • #4,710
  • Jun 4, 2011 9:24am Jun 4, 2011 9:24am
Quoting 33drifter
Thanks Snarlyjack,

Im definitely going to try to set and forget from now on. easier said than done for me, ive spent the last 3 or 4 years watching every movement on the M1 and M5 charts.

Thanks for the advice
I admire your determination to follow market movement on such a "zoomed in" tf. I've been there and came to realise that these tfs are just daily noise. To be honest, they are very hard to profit from. It's so easy to get whipsawed, especially on a day when there are several financial data releases.

The strategy that eelfranz laid out here is logical and capable of producing good profits for those who don't have a "get rich quick" mentality.
  • #4,711
  • Jun 4, 2011 10:01am Jun 4, 2011 10:01am
Quoting snarlyjack
Drifter,

I made $184.00 today (184 pips = $1.00 per pip) on three
different contracts on the 4 hour chart using Eelfranz method
of tdi plus 5ema shift +2. No big deal. Set your trades and
take a nap and quit watching every pip move.

Roterio,

My take profit is at approximately $100.00 give or take depending
on how the market is looking. Also if the tdi green line starts
to flatten out on you = 3:00 direction, take profits.

Today the eur/usd was really making a move so I held longer
because of the volitility in the market. And made a...

  • #4,712
  • Jun 4, 2011 11:56am Jun 4, 2011 11:56am
Quoting abdunbar
Whatfx,

The way I see these efforts such as this one by eelfranz;

He is giving us a framework for decision making. You will always have to do some of your own work to make a method for yourself.

How do you identify ranging markets?

Last night on the Euro a good example. The marked congestion area was obvious if you were sitting through it waiting for a trade. I don't care what the squiggly lines say, I am not taking a trade either direction until it breaks that area. I took a short at the first red arrow. Failed to take any profit,...
Wow! just read your input - really good - hit it right on the nose. Very insightful - Thanks
  • #4,713
  • Jun 4, 2011 12:02pm Jun 4, 2011 12:02pm
Quoting Danyjoe
hello
considering that I'm still in demo
i'm studing Forex from 2 months.. but many many hours a day ..
I did a course, tried dozens of systems, studied EA..
interested me the first page of this tread and the simplicity of this system(I think BIG E is a very intelligent and generous to share his efforts of his life)
enough to study the manual and do a lot of backtest

I do not know much fundamental .. I think I know just enough to

But I think.. as in many things in life.. [u]more complicate you are and more your...
Any idea who you want to go with as a a broker?
  • #4,714
  • Jun 4, 2011 12:28pm Jun 4, 2011 12:28pm
Quoting plamendp
Hi mate, few notes

1. I'd suggest removing Lawgir's indi and arrows from the chart (confusing)

2. Your stochastic is 14,3,3, SMMA, Low/High. Change it to 8,3,3,SMA,Close/Close. Anyone else? At least that's is mine.

3. Resistence

I'd stay out...

Plamen
Can you please tell me where can i find Heiken Ashi Candle Inductor, similar to the one you have with . Thanks in advance.
  • #4,715
  • Jun 4, 2011 1:26pm Jun 4, 2011 1:26pm
Hallo Gang, i am thinking about going Live in week or so. Any suggestions on good broker (US) . Any information will help. Thanks in advance

Sorry to be off topic, I will be using Big E's system, when i go live.
  • #4,716
  • Jun 4, 2011 1:56pm Jun 4, 2011 1:56pm
Quoting PreetEnzo
Hallo Gang, i am thinking about going Live in week or so. Any suggestions on good broker (US) . Any information will help. Thanks in advance

Sorry to be off topic, I will be using Big E's system, when i go live.

I personally use MT4 brokers for charting and software and use ECN brokers to execute because of the much tighter spreads, I use Dukascopy at the moment, been very good to me, great customer service with any problem I've had, (I havent had many).

Hope it helps.

G'luck
  • #4,717
  • Jun 4, 2011 2:00pm Jun 4, 2011 2:00pm
Quoting tomthepoppop
Wow! just read your input - really good - hit it right on the nose. Very insightful - Thanks

Yes that was a great post - his point on consolidation was key. Low volume will usually kill any system, including this one. Avoid anything that is flat with small candles or in a tight range. Let PA break out of consolidation first, you never know PA may come back and you might be able to trade the bounce (safer trade).
  • #4,718
  • Jun 4, 2011 3:53pm Jun 4, 2011 3:53pm
First let me say that after a year of searching this is the best approach I have seen and I look forward to earning a bunch of money. Just my opinion but let me share it with you. I have traded a standard live account and lost all $3k in the past - Then went to demo account - then to live but only Micro ($100) account. I found that I did not take the demo acct as seriously as the live Micro account and took chances on it that I would not take on a live account. So, if you really want the feel of a live account, open a small $100 Micro account with a broker and trade it with each pip being worth just
$0.10 (ten cents). If you have a method such as we have you can trade it and raise the account to a level that will give you the confidence to go to standard lots instead of Micro lots. I only offer this as an option because I have been there and found the Micro account was more realistic. Just my opinion.
  • #4,719
  • Jun 4, 2011 5:21pm Jun 4, 2011 5:21pm
Quoting tomthepoppop
First let me say that after a year of searching this is the best approach I have seen and I look forward to earning a bunch of money. Just my opinion but let me share it with you. I have traded a standard live account and lost all $3k in the past - Then went to demo account - then to live but only Micro ($100) account. I found that I did not take the demo acct as seriously as the live Micro account and took chances on it that I would not take on a live account. So, if you really want the feel of a live account, open a small $100 Micro account with...
I want to say that I completely agree with this. Demo trading is useful when you first start but to really get a feel for how you will handle the pressure of putting your own money at risk you need to use a live account and better to risk $300 than $3k.
  • #4,720
  • Edited 5:37pm Jun 4, 2011 5:28pm | Edited 5:37pm
Quoting peterporter
It does not really matter .
Anyone here who says " Read the thread and dont be lazy" has to realize that alot of threads comments have diddley squat info in them

Instead you can use http://www.forexfactory.com/attachme...2&d=1305379722

this summary is a doc from otiose. It's 48 pages of Big E's comments only, frm the original thread. Read it over 2x and you'll be well informed.

thanks Otiose - this was extremely helpful and I've been following the thread since Jan.
99 traders viewing now