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Trading Made Simple

  • #4,961
  • Jun 8, 2011 4:20am Jun 8, 2011 4:20am
Quoting Slymm
The past weeks I've been trading this method, I have skipped on certain set ups because of either a weak candle or opposing lower TF only to find that the market has moved in that direction for one reason or another, and it happened time and time again, so the last 8 days of trading, I've simply looked at potential setups and have carefully placed limit orders between the daily support/resistant levels (i.e 10+spread)...

I have set up 18 limit orders in the last 8 days

12 of which were triggered, 1 was stopped out (misplaced SP)

Averaging...
I actually don't think BigE recommends checking the lower TF, I think he said he sometimes checks the next higher timeframe up if he's unsure about a trade.
  • #4,962
  • Jun 8, 2011 4:32am Jun 8, 2011 4:32am
Quoting 2scoops
Nice analysis Dean. I would also add though that the candles were/are a little small and the angle of the green on the TDI is a little weak.
Thank you scoops.....the tdi angle was actually really good at the time....it just looks weak becasue I have my chart zoomed in one notch. If it was zoomed one more click to the recommended level you would see it was actually at a great angle and yep I agree the candle was reasonably small but it was growing....hence my reason for waiting for the second candle.....which as you can see ruined bloody everything...no trade
Nice to know I am getting the analysis right...thanks mate.
I am struggling to find anything this week
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  • #4,963
  • Jun 8, 2011 4:37am Jun 8, 2011 4:37am
Quoting 2scoops
I actually don't think BigE recommends checking the lower TF, I think he said he sometimes checks the next higher timeframe up if he's unsure about a trade.
Thanks, I wasn't really sure if that was the case for definite, and have missed a few trades because of the "uncertainty"..
  • #4,964
  • Jun 8, 2011 4:37am Jun 8, 2011 4:37am
I think when your trading cautious your trading well, just follow the basic 4X checklist BigE told you to check and if everything matches up go for the trade - its simple.
  • #4,965
  • Jun 8, 2011 4:42am Jun 8, 2011 4:42am
Do you wait for the PA candle body cross under the MA to enter the trade if TDI had been already crossed before?

I think there are 2 methods. one of which is more aggressive and in this aggressive one we dont wait to the cadle body close under MA.

But I wonder which one do you prefer?
Demand is not one wants, but what one can pay for
  • #4,966
  • Jun 8, 2011 4:46am Jun 8, 2011 4:46am
Quoting 2scoops
I think when your trading cautious your trading well, just follow the basic 4X checklist BigE told you to check and if everything matches up go for the trade - its simple.
Hi Scoops,

I read upto 1000 posts in this thread then started following the current ones.

I know I saw the big E's checklist. Now could not find it.

I kindly request you the post number for the check list, if you can.

Thanks.
KC.
  • #4,967
  • Jun 8, 2011 4:52am Jun 8, 2011 4:52am
Quoting Slymm
The past weeks I've been trading this method, I have skipped on certain set ups because of either a weak candle or opposing lower TF only to find that the market has moved in that direction for one reason or another, and it happened time and time again, so the last 8 days of trading, I've simply looked at potential setups and have carefully placed limit orders between the daily support/resistant levels (i.e 10+spread)...

I have set up 18 limit orders in the last 8 days

12 of which were triggered, 1 was stopped out (misplaced SP)

Averaging 30pips...
May be it's a strategy more for the brokers profit than for the traders welfare. If you trade only after indicators you lose the money, you could hear extremely often from experienced traders. If you don't use your brain and your experience and the multiple time frame analyses you wouldn't manage any trading systems. Believe me!,...and take the time to adapt a trading system at your personality, at your risk tolerance and at your corpus rationale, which really works for you not for others. I really think that this strategy are blowing soap bubbles and traders who support this strategy are working for the brokers.
This H4 strategy is at first for trend trading (and talk about max. 20-30% of all market situations), moreover this strategy parameters don't include any parameters about these important aspects like momentum and volatility.

I'm really out of here!

Kindest regards
FXcube
  • #4,968
  • Jun 8, 2011 4:56am Jun 8, 2011 4:56am
Quoting Forexcube
May be it's a strategy more for the brokers profit than for the traders welfare. If you trade only after indicators you lose the money, you could hear extremely often from experienced traders. If you don't use your brain and your experience and the multiple time frame analyses you wouldn't manage any trading systems. Believe me!,...and take the time to adapt a trading system at your personality, at your risk tolerance and at your corpus rationale, which really works for you not for others. I really think that this strategy are blowing soap bubbles...
Wow this is one disapointing comment. Especially when i could not catch any trade this week and down much.

  • #4,969
  • Jun 8, 2011 5:06am Jun 8, 2011 5:06am
How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6) {Referring to angle of green tdi line and Stochastics as if it were a clocks hands}.

Does Stoch's confirm the TDI signal
  • #4,970
  • Jun 8, 2011 5:09am Jun 8, 2011 5:09am
Quoting Forexcube
May be it's a strategy more for the brokers profit than for the traders welfare. If you trade only after indicators you lose the money, you could hear extremely often from experienced traders. If you don't use your brain and your experience and the multiple time frame analyses you wouldn't manage any trading systems. Believe me!,...and take the time to adapt a trading system at your personality, at your risk tolerance and at your corpus rationale, which really works for you not for others. I really think that this strategy are blowing soap bubbles...
Bye! Don't come again
  • #4,971
  • Jun 8, 2011 5:12am Jun 8, 2011 5:12am
Quoting KCV
Wow this is one disapointing comment. Especially when i could not catch any trade this week and down much.

Ignore him, he's on BigE's ignore list.
  • #4,972
  • Jun 8, 2011 5:13am Jun 8, 2011 5:13am
Quoting 2scoops
How close am I to the previous high or lo

Am I in an uptrend or downtrend.. short & long term...

Am I in or close to a consolidation

Are the previous candles small...

Look at the candles on the last reversal... big, little, what

How does the momentum look right now (12-2, 4-6) {Referring to angle of green tdi line and Stochastics as if it were a clocks hands}.

Does Stoch's confirm the TDI signal
Ty so much Scoops.
  • #4,973
  • Jun 8, 2011 5:14am Jun 8, 2011 5:14am
Quoting eelfranz
FXCube...

Please don't forget to close the door behind you... Bye...
Post 1185
  • #4,974
  • Jun 8, 2011 5:15am Jun 8, 2011 5:15am
Quoting 2scoops
Close the door on your way out, Bye.
Lol....
  • #4,975
  • Jun 8, 2011 5:19am Jun 8, 2011 5:19am
Quoting KCV
Ty so much Scoops.
I'd add news and support and resistance levels to that list:

Dean has a good check list:
Attached File(s)
File Type: xls TDI trade check.xls   229 KB | 1,025 downloads
  • #4,976
  • Jun 8, 2011 5:25am Jun 8, 2011 5:25am
Quoting 2scoops
I'd add news and support and resistance levels to that list:

Dean has a good check list:
This is really cool. Ty Scoops.

KC.
  • #4,977
  • Jun 8, 2011 5:39am Jun 8, 2011 5:39am
I dont really know whats wrong with this guy. Any time he comes here, read few posts and hit somebody's comments. May be if you dont know, he is one of "those" fund managers there (MAY BE BUCKET SHOP-I DONT KNOW). May be he want to advertise himself.He will always look for a simple system to code in to EA and sell later . May be this one has been proving difficult for him. Why did he come back again? We know them very well. We dont need his comments here. We always put basic forex into consideration. If we dont get signal much this week, we can get much later.
IF HE HIS NOT INTERESTED,OTHERS ARE. LET HIM SHOT THE DOOR BEHIND HIM, AND NEVER COME BACK AGAIN.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #4,978
  • Jun 8, 2011 5:44am Jun 8, 2011 5:44am
Quoting adeforex
I dont really know whats wrong with this guy. Any time he comes here, read few posts and hit somebody's comments. May be if you dont know, he is one of "those" fund managers there (MAY BE BUCKET SHOP-I DONT KNOW). May be he want to advertise himself.He will always look for a simple system to code in to EA and sell later . May be this one has been proving difficult for him. Why did he come back again? We know them very well. We dont need his comments here. We always put basic forex into consideration. If we dont get signal much this week, we can...
I think same with you..

Demand is not one wants, but what one can pay for
  • #4,979
  • Jun 8, 2011 5:50am Jun 8, 2011 5:50am
Quoting adeforex
I dont really know whats wrong with this guy. Any time he comes here, read few posts and hit somebody's comments. May be if you dont know, he is one of "those" fund managers there (MAY BE BUCKET SHOP-I DONT KNOW). May be he want to advertise himself.He will always look for a simple system to code in to EA and sell later . May be this one has been proving difficult for him. Why did he come back again? We know them very well. We dont need his comments here. We always put basic forex into consideration. If we dont get signal much this week, we can...
Wondering is there an option for Big E to restrict him not to post any in this thread.

  • #4,980
  • Jun 8, 2011 6:13am Jun 8, 2011 6:13am
Quoting 2scoops
I'd add news and support and resistance levels to that list:

Dean has a good check list:
On the issue of small candles in the list I suppose that's relative. There are lots of great trades from small candles and here are 2 examples. Does size matter?
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