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

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Attachments: Trading Made Simple
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Trading Made Simple

Don't know whats come over me this week. I've replaced all my other c**p with this method and been trading from the 1hr and 4 hr charts, also using the 15 min charts to time entries after retracements and I have profit, yes real P R O F I T.

WOO blinking HOO.

KISS rules, get rid of all the indicators and just use the TDI, nothing else. It works. I've spent years and lots of dollars making it complicated when it really isn't.

Best trades for the week E/U 280 pips, G/U 220 pips. plus retracement trades taken short on the 15 mins

Total pips for the week 580. Thanks to all involved in guiding using this thread.
Short Euro and remaining that way. That's just the way it is !
Quoting alkenany
entered long 4164
reached up to about +50 pips, did not take it, just put sl at BE . may think to close half of it.
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Quoting Nate04
I've always said I wish I could trade the 4 hour charts. It fits my psychology better, as I really don't like holding on to trades to long, but also don't want to sit and watch every tick on the chart. But kids, day job... It kinda forces me into my situation. I deal with it I guess.
hi, Nate!

I have the same baggage too :-) Decided to work on 4H charts and look for setups at least twice a day: 9 AM, 9 PM and occasionally 1 AM candles (EST time zone). I miss lots of good setups, but still better than working on daily, I think. Plus, on daily your SL must be bigger usually, which is more risk IMO.
[quote=dean;4698348]
Quoting littlebunny
no....you are talking about a bounce trade. this is an example of a bounce trade. Its when the trend hits a reversal candle, the green heads back toward the red but "bounces" off the red line, the next candle reverses again and continues the way of the trend. Thats a rough description. It is at the beginning of the thread if you want a full understanding of it.
Very good explanation of bounce trade. I am having really good luck with Big E's setups and was wanting to try a bounce trade. Thanks for clearing that up for me. There is nothing that can beat a good clear chart.

Freebeans
I haven't finished reading the thread yet, so forgive me if this question has already been answered.

On the charts posted in the early pages of this thread by eelfranz, there is a red vertical line shown for entry after TDI has crossed.

Is entry on the OPEN of the candle on the red line (or) is entry on the CLOSE of the candle on the red line?
Quoting Glebus
hi, Nate!

I have the same baggage too :-) Decided to work on 4H charts and look for setups at least twice a day: 9 AM, 9 PM and occasionally 1 AM candles (EST time zone). I miss lots of good setups, but still better than working on daily, I think. Plus, on daily your SL must be bigger usually, which is more risk IMO.
Hey Glebus

I trade 4h and daily and if you keep your risk constant eg 2% then it doesnt matter if you trade daily or 4h as all that changes is your position size. Eg a 50 pip stop on 4h cd be 2 dollars a pip = 100 dollars whereas on daily you cd have a 100 pip stop at 1 dollar=100 dollars=same risk profile.

Good luck rading 4h charts as you get lots of good setups off them.

Kal
EUR USD SL hit, moved my SL to BE when i went to bed.
Was not able to take some profit off the table bacause i was sleeping.
Quoting Thierry
EUR USD SL hit, moved my SL to BE when i went to bed.
Was not able to take some profit off the table bacause i was sleeping.
It went up to 52 pips, maybe 7 hours ago, but I also failed to take profit at that time. I closed it 1 hour later 32 pips in profit.

This is the hard part of this game isn't it, where to take your profits. I had another trade this week and it came against me, 3 pips from break even and bounced back up again. I took 15 pips profit and the bugger went up to little more than 100 pips. I must have left around 120 pips on the table this week.

Anyone has any tips?

Cheers,
Erick
build a better future. ForexNation dot Org
Quoting NZ Chris
Don't know whats come over me this week. I've replaced all my other c**p with this method and been trading from the 1hr and 4 hr charts, also using the 15 min charts to time entries after retracements and I have profit, yes real P R O F I T.

WOO blinking HOO.

KISS rules, get rid of all the indicators and just use the TDI, nothing else. It works. I've spent years and lots of dollars making it complicated when it really isn't.

Best trades for the week E/U 280 pips, G/U 220 pips. plus retracement trades taken short on the 15 mins

Total pips...
Well done Chris, can you explain a bit more about your retracement trades "also using the 15 min charts to time entries after retracements"
Quoting erickva
It went up to 52 pips, maybe 7 hours ago, but I also failed to take profit at that time. I closed it 1 hour later 32 pips in profit.

This is the hard part of this game isn't it, where to take your profits. I had another trade this week and it came against me, 3 pips from break even and bounced back up again. I took 15 pips profit and the bugger went up to little more than 100 pips. I must have left around 120 pips on the table this week.

Anyone has any tips?

Cheers,
Erick
I know how that feels. I did the same thing Thursday morning. But +15 is always better than -15. The market is bigger than all of us, and it will do whatever it pleases, whenever it pleases.
One thing that helps me is having a pip goal for the week, and average it out for each day. That way I'm looking for a set number each time. It's great to get big gainers, but it's too much pressure to feel like you have to hit a homerun every time you trade.
Hi Guys and Gals,

First off, I would like to express my gratitude to EelFranz for this amazing and easy system. Also a big thanks to all the contributors who've been posting their charts. I took me about 2 weeks to read the whole thread, but I'm up to speed now. Installed the indicators and put on my first trades all in profit.

I've been demo trading/microtrading for 6 months now and never felt confident enough to go live or trade with full lots, because my win ratio wasn't that good. I was profitable but not the way I think it should be. For the past 2 weeks I've been averaging about 60 pips per day using TMS, with a winratio of 70% on my trades and not risking more than 2% of my account. I'm gonna try to keep this up for about a month on micro, before funding my account with some "real" capital.

I just trade the H4 tf during the London session, which is easy for me cause I live in Holland and have acces to my MT4 charts both at home and at work ( I know, I'm lucky ). I use the last swing for SL just as an emergency but often close out a trade sooner when it's moves against me 10 to 15 pips. My TP's are at round numbers an SR zones. Before entry I just check the overal trend on daily and look to the left for SR etc. I don't look at the lower timeframes because they scare and confuse me. I know I could finetune my entries if I did, but I choose not to because of the scare factor and keeping my head clear.

So far the combination of TMS, common sense, basic 4X knowledge and good MM are working like a charm and giving me the confidence I need to enter and exit trades. I'll start posting my charts soon so I can give something back to this thread.

Thanks again and millions of pips to all, especially BigE... get well soon buddy.


Off topic:
Question for the Europeans: could you please PM me some recommendations on brokers you're using. Seems that the broker thread on FF and review sites are filled with bitter people who lost their money and posting fake comments. Thanks in advance.



Chris
This trading system is really fantastic.It works for with excellent mathematical precision Though I used S-R level to determine my exit.I am really grateful to the owner
With patience and discipline,you move beyond the sky
Quoting erickva
It went up to 52 pips, maybe 7 hours ago, but I also failed to take profit at that time. I closed it 1 hour later 32 pips in profit.

This is the hard part of this game isn't it, where to take your profits. I had another trade this week and it came against me, 3 pips from break even and bounced back up again. I took 15 pips profit and the bugger went up to little more than 100 pips. I must have left around 120 pips on the table this week.

Anyone has any tips?

Cheers,
Erick
Hi Erick/Thierry, I took this long also allthough it was outside London session. Made 40 pips because I took profit just before the 100's @ 1.4200. You should take satisfaction out of trades that work out the way you planned them by making good decisions. Doesn't matter how many you left on the table if you consistantly make profitable trades. I closed this because I knew it would have trouble with 1.4200. If it breaks later (which it did) you left pips on the table, but who cares if you've got 40 in the bank right? I could have made more pips 9 times out of 10 on all my trades if I stayed in longer, but I stopped looking back and just focus on the next setup.

Hope this helps.
Pecunia,

Welcome to this fantastic thread! Nice to see a duchtman, i am also from holland

For brokers you can check page 365. I use RBS and oanda for manual trades.

Nice to see great results, keep posting en post some charts when you ready for it.
Quoting Pecunia
Off topic:
Question for the Europeans: could you please PM me some recommendations on brokers you're using. Seems that the broker thread on FF and review sites are filled with bitter people who lost their money and posting fake comments. Thanks in advance.
I'm based in the UK but trade with a non-UK broker for tax reasons. If I were to choose a European broker I'd go with Alpari end of story. If leverage wasn't a concern I'd go with OANDA - they have an impeccable reputation and a great news service which includes IFR Markets. For variety check out the offerings of Interbank FX or FXCM. For some reason Forex peace army seems to have better broker reviews than here.
Quoting Thierry
Pecunia,

Welcome to this fantastic thread! Nice to see a duchtman, i am also from holland
Thanks Thierry. I'll check those brokers out. Still looking for a nice setup today (friday I know). No crosses yet, just a few TDI bounces on H4 that are to close to SR... keeping my eyes open...
I reversed my position on dropping to a lower TF for entries. I used to be a fan but im not anymore. My SL is always (as per the rules) going to be behind the last swing, so really whats the point in complicating it.

just my 2 pips
Quoting Pecunia
Hi Guys and Gals,

First off, I would like to express my gratitude to EelFranz for this amazing and easy system. Also a big thanks to all the contributors who've been posting their charts. I took me about 2 weeks to read the whole thread, but I'm up to speed now. Installed the indicators and put on my first trades all in profit.

I've been demo trading/microtrading for 6 months now and never felt confident enough to go live or trade with full lots, because my win ratio wasn't that good. I was profitable but not the way I think it should be. For...
looking forward to your Charts, - glad to here your doing well.
Quoting TheMaxx
I'm based in the UK but trade with a non-UK broker for tax reasons. If I were to choose a European broker I'd go with Alpari end of story. If leverage wasn't a concern I'd go with OANDA - they have an impeccable reputation and a great news service which includes IFR Markets. For variety check out the offerings of Interbank FX or FXCM. For some reason Forex peace army seems to have better broker reviews than here.
Cheers Pete!

If anyone else has recommendations on brokers, please PM me and keep the thread clean.
Experienced traders please share your experience here...

http://www.forexfactory.com/showthread.php?t=299416
Trade responsiblypatience is the key/Swing trader
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