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

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Trading Made Simple

  • #5,201
  • Jun 10, 2011 10:33am Jun 10, 2011 10:33am
something strange has happened 4 hours ago on EUR and GBP?
I saw that there were news .. but some time before ..

someone else was go long and had wrong?
  • #5,202
  • Edited 11:56am Jun 10, 2011 11:12am | Edited 11:56am
hi kinonen

how can we get the 'KİNONEN-SCALPİNG trade indicator'
  • #5,203
  • Jun 10, 2011 11:29am Jun 10, 2011 11:29am
After about a week of coding and trying to figure out MetaTrader's language I think I've been able to duplicate the TDI indicator with OmniLanguage and get it into OmniTrader (the platform I use).

How do these 2 TDI crosses look?
The 4hr bars are not complete. I have mine finishing at 1pm like Big E so there's another 45mins. But so far would it look like a good trade to get into at the open of the next bar? (Demo of course)

Few notes on my charts:
- I can't plot HA bars with OmniTrader, but I can make my bar colors HA bars. So the color of the bars represents HA bars, but the values of the bars is the actual price bars. Hope that makes sense.

- The histogram below is the difference between the HA Open and Close so I can get a representation of the size of the HA bars, which Big E has said is important.

- The TDI indicator is the same as what's in MT4. I just changed the red like to blue and made the green line change from green to red when it's over and under the blue.
Big E said he doesn't pay much attention to the red line just the green line. That's why I made the red line blue (trigger line) and do a color change of the signal line to easily see when to buy and sell.

- The bottom one is just the regular Stoch.

- Ignor the little arrows on the chart. That's just a indicator I forgot to remove.



So what I'm seeing is:
EURGBP
First red HA bar
Strong HA bar (see Histogram)
Good angle on TDI crossing
Good angle on Stoch

Big E says to read PA also:
Breaking support
Looks like downtrend may be starting

Check lower TF 1HR:
1HR chart also looks like it's breaking support
Also looks like downtrend since June 8


USDCAD
First Green HA bar
Strong HA bar (see Histogram)
Good angle on TDI crossing
Sto kind of flat

Big E says to read PA also:
Approaching resistance June 8 resistance
Consolitation since Jun 2

Check lower TF 1HR:
Approaching resistance June 8 resistance
Big move just happend up


I think I just talked myself out of USDCAD


Is there something I'm seeing that's not there or something I'm missing?


Thanks,

Lain
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP-H4-1.JPG Size: 111 KB
Click to Enlarge Name: USDCAD-H4-1.JPG Size: 118 KB
  • #5,204
  • Edited 12:11pm Jun 10, 2011 12:10pm | Edited 12:11pm
Quoting adeforex
I am not changing big E rule but just more technical.
I BELIEVE MUCH IN MOMENTUM TRADING ALONG THE TREND...........
I AM JUST RIDING WITH THE TREND OF HIGHER TIME FRAME AND PUTTING BASIC FOREX INTO CONSIDERATION. SIGNALS COME MORE THAN 1X IN A DAY- AS I DONT EVEN TAKE ALL, BUT WHAT I CAN SEE THAT IS THE BEST. AS I MAY BE WRONG BUT, HEY, IT IS REALLY WORKING FOR ME, AND I KNOW IT CAN WORK FOR ANYBODY THAT CARES.
I really appreciate your thoughts! I think this is the only possible successful way of trading to follow the higher TF and when the slower TF and the higher TF are in the same phase we can have a higher chance to be profitable.
  • #5,205
  • Jun 10, 2011 12:22pm Jun 10, 2011 12:22pm
Quoting AmishBuggyFX
I saw this one, too. I am in it with you. Day TF's are good for me this time of day, because I have to leave and spend the next 12 hours at the J-O-B, and I can only check the computer every so often.
Hi-ho-hi-ho off to work I go...
it's a test for me
that's why I wrote here.. to see your thoughts
i'm not very good in daily trades
  • #5,206
  • Jun 10, 2011 12:37pm Jun 10, 2011 12:37pm
Quoting harar
Hi
I like the way and the logic of your trades . Can you please post your indicators and template.
Thanks and regards
it has been discused and the links posted ealier. just ckeck from 10 days back
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #5,207
  • Jun 10, 2011 1:03pm Jun 10, 2011 1:03pm
Say Nate what part of the country you from, i would prefer CST as well, i live in Dallas

Quoting Nate04
I would actually like a broker who starts their candle at 10,2,6 cst...

I still don't know if I could force myself to get up at that time with work and kids to deal with. Although I do like the idea of not having to hold on to trades for a long time, which can happen when you trade the daily time frame like I do now.
  • #5,208
  • Jun 10, 2011 1:05pm Jun 10, 2011 1:05pm
I know Alpari uses 9,1,5 on their platform

Quoting Nate04
I would actually like a broker who starts their candle at 10,2,6 cst...

I still don't know if I could force myself to get up at that time with work and kids to deal with. Although I do like the idea of not having to hold on to trades for a long time, which can happen when you trade the daily time frame like I do now.
  • #5,209
  • Jun 10, 2011 1:47pm Jun 10, 2011 1:47pm
My fear saved my a*s :-)

Almost got cought today by this nice DOWN Bounce (trap behind as appeared later). Got over the temptation and stayed out.. again. Huh...

Have a nice weekend!


Plamen
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 49 KB
Bah...
  • #5,210
  • Jun 10, 2011 1:51pm Jun 10, 2011 1:51pm
Quoting plamendp
My fear saved my a*s :-)

Almost got cought today by this nice DOWN Bounce (trap behind as appeared later). Got over the temptation and stayed out.. again. Huh...

Have a nice weekend!


Plamen
Wow, usd/cad has been a trick this week, hasn't it??? I decided early this week to stay away from that pair until a clear direction has been set.
  • #5,211
  • Jun 10, 2011 1:57pm Jun 10, 2011 1:57pm
Quoting plamendp
My fear saved my a*s :-)

Almost got cought today by this nice DOWN Bounce (trap behind as appeared later). Got over the temptation and stayed out.. again. Huh...

Have a nice weekend!


Plamen

I've just starting to train myself to demo trade this strategy, so I'm trying to gather as much info as possible (don't worry, already read the thread), and learn as much as I can for people trading it..

It appears as Stochastics was kind of flattening out when the bounce happend and from what I've read it's best to use Stochastics to confirm direction.

Would it be safe to say that the Stochastics flattening should keep me out of a bounce trade like that?


Thanks,

Lain
  • #5,212
  • Jun 10, 2011 3:57pm Jun 10, 2011 3:57pm
Having tried what seems like everything in the past from free robots to $5,000 systems I reckon I just might be on to something with this method. Nice and simple. makes sense and as the earlier posts that eelfranz posted it makes much more sense if you don't try to complicate it.

I'm not used to trading on longer time frames but having replaced all my charts with the posted template from early in the thread I am having a little bit of success for the first time in months. I have been using mainly the 1 hr charts and when I see a set up I wait for the retrace from the initial move on the 15 min and 5 min charts and when the secondary setup happens on the shorter time frames I jump in. Has worked well this week with 280 pips profit.

Great thread, simple and profitable. Going to try 4 hrs and dailys in the coming month. Thanks for everybody's efforts.

p.s Hope eelfranz in feeling better.
Short Euro and remaining that way. That's just the way it is !
  • #5,213
  • Jun 10, 2011 4:16pm Jun 10, 2011 4:16pm
Quoting adeforex
One funny thing happened on the EU trade today. I opened 2 micro trades at the same time,one for different broker (names with held). One hit my stop-loss on the dot and reversed to my direction of trading ( i dont know may be it is manipulation) while the other,though close to my stop-loss,reversed and was in profit when i woke up for about 50 pips, before closed it. Thank God it is micro accounts that i am still using with this system.
LESSONS: To be more careful about my Sl and target profit and never trust any broker because...
Thank you for sharing your results, I'll do the same even in a few days
can you post your rules of trade?
  • #5,214
  • Jun 10, 2011 6:32pm Jun 10, 2011 6:32pm
Quoting 2scoops
Well thanks, I hope your feeling better.

The red lines are just a trend line indicator that draws your trend lines for you. And the SR indicator just draws the major areas of support and resistance. They are there only to help you with the 4X basics, they change none of the rules of the BigE system, only consult them after all the TMS method rules have been met.

Price bounces off these trend lines all day long and it shows you a pretty good picture of what the trend is on the higher time frames. Ignore the bottom and very top trend line (that...
cheers mate. Yeah I didnt mean to sound like a whinger....its nothing really but thanks for your well wishes.
I understand they are not part of the system, but trend lines and S/R are my main focus on the 4x basic side so this will help me. I tend to overanalyse and miss trades becasue I see too much S/R and I miss trades so this might actually make it clearer for me. Thanks for that.
  • #5,215
  • Jun 10, 2011 7:05pm Jun 10, 2011 7:05pm
Quoting davlo
Say Nate what part of the country you from, i would prefer CST as well, i live in Dallas
I'm up north of you in Nebraska for the time being.
  • #5,216
  • Jun 10, 2011 7:10pm Jun 10, 2011 7:10pm
Quoting Nate04
I'm up north of you in Nebraska for the time being.
++++++++++++++
Whereabouts Nate? I'm in Council Bluffs.
  • #5,217
  • Jun 10, 2011 7:10pm Jun 10, 2011 7:10pm
I'm out for the weekend now... Have a great weekend everyone, and make time for the people you care about. Not to get preachy, but trading isn't everything... family and friends are worth their weight in gold.

Peace.
  • #5,218
  • Jun 10, 2011 7:11pm Jun 10, 2011 7:11pm
Quoting diamonddbw
++++++++++++++
Whereabouts Nate? I'm in Council Bluffs.
I'm on the other side of the flooded river. lol

Hope you are safe and not getting any flooding.
  • #5,219
  • Jun 10, 2011 7:18pm Jun 10, 2011 7:18pm
Quoting Nate04
I'm on the other side of the flooded river. lol

Hope you are safe and not getting any flooding.
+++++++++++++
We're fine here. On high ground near 92 & I-29. Enjoy your weekend.
  • #5,220
  • Jun 10, 2011 7:25pm Jun 10, 2011 7:25pm
Quoting diamonddbw
+++++++++++++
We're fine here. On high ground near 92 & I-29. Enjoy your weekend.
Oh yeah, you are fine then. I got a couple of relatives out by that area, by Lewis Central. Enjoy your weekend as well.
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