Trading Made Simple | Page 282 | 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

  • #5,621
  • Jun 17, 2011 7:07am Jun 17, 2011 7:07am
Quoting Pecunia
Hi Guys and Gals,

First off, I would like to express my gratitude to EelFranz for this amazing and easy system.


Chris
Welcome. its great to see more advocates of the system. I have a question for you on handling stop losses/exits. You mentioned that you typically close out if a trade comes back on you by 10/15 pips, with an emergency stop clear of the previous swing. This is the part I'm finding most difficult to manage. Theres rarely a 4hr trade that doesnt come back 10/15, even if the setup is perfect. So, do you look to re-enter at a better price, or after the move continues in your direction through the original entry price? Or do you just move on?

EEL mentions the same principle of cutting when the trade goes against you at the entry. It just seems that you will then be closing almost every trade, especially on a 4hr which need space to move about.

Well done on your record so far. This system is truly impressive. I just need to clean up my executions.
  • #5,622
  • Jun 17, 2011 7:27am Jun 17, 2011 7:27am
Quoting ceebs
Welcome. its great to see more advocates of the system. I have a question for you on handling stop losses/exits. You mentioned that you typically close out if a trade comes back on you by 10/15 pips, with an emergency stop clear of the previous swing. This is the part I'm finding most difficult to manage. Theres rarely a 4hr trade that doesnt come back 10/15, even if the setup is perfect. So, do you look to re-enter at a better price, or after the move continues in your direction through the original entry price? Or do you just move on?

EEL mentions...
Hi Ceebs, maybe I've just been lucky on my entries, because when I enter per the rules on H4 most of the time PA has enough momentum and doesn't come back to me more than 15 to 20 pips. And if it does happen I'll close it like I said. I don't look for re-entry and just move on.

I have to say that I only watch my trade for a couple of minutes after entry. And I don't enter exactly on opening of the second candle. Ik let it grow a couple of minutes to catch momentum. If it comes back, I'll close if it doesn't I let it ride to my TP...

I'm more comfortable with this, because if I let it breathe and it hits my emergency SL (which is sometimes 50 to 100 pips), I need a lot more profitable trades to get my pips back. Sure I miss out on a couple of good runs that I could have left breathing and went into profit looking back, but that's trading. Trust your decisions and move on. It's been said many times: don't be greedy, lock in profits and cut your losses.

Hope this helps.

Chris
  • #5,623
  • Jun 17, 2011 7:55am Jun 17, 2011 7:55am
Quoting ceebs
Welcome. its great to see more advocates of the system. I have a question for you on handling stop losses/exits. You mentioned that you typically close out if a trade comes back on you by 10/15 pips, with an emergency stop clear of the previous swing. This is the part I'm finding most difficult to manage. Theres rarely a 4hr trade that doesnt come back 10/15, even if the setup is perfect. So, do you look to re-enter at a better price, or after the move continues in your direction through the original entry price? Or do you just move on?

EEL...
I Agree with Ceebs. When He Said "This is the part I'm finding most difficult to manage. Theres rarely a 4hr trade that doesnt come back 10/15, even if the setup is perfect".
I have the same difficult.
Is there anyone who trading on TF 1H?

Thank You
If I Change, the whole World changes!
  • #5,624
  • Jun 17, 2011 8:29am Jun 17, 2011 8:29am
Quoting maxtrader
Can anyone tell me please by your own experience what would be a good angle (1-2, 4-5) but in terms of TMS TDI slope indicator?
I mean a good angle would be a 3, 4, 5 slope?
I am trying to understand this indicator.
Regards

Anyone?
Indicators always obey Price, not the other way.
  • #5,625
  • Jun 17, 2011 8:52am Jun 17, 2011 8:52am
Quoting Callisto
Here, try the base versions of same indicator
Hey callisto Did you ever get those arrows working? I seem to be having the same problem with them. nice tool if we can get them working!
  • #5,626
  • Jun 17, 2011 9:09am Jun 17, 2011 9:09am
Quoting 2scoops
Well done Chris, can you explain a bit more about your retracement trades "also using the 15 min charts to time entries after retracements"
Hi Scoops,

It's pretty easy really, particularly using this system. In any 4 hr candle the price is going up and down with and against the trend. During a bar after I've entered using the rules I keep an eye out on the 15 min chart for a retracement that doesn't always show on the 4hr TDI. I then wait for a TDI signal on the 15 min to enter in the same direction as the 4hr trend and go from there. I have had a couple of losses this way but generally get another entry from a better position after. I can grab an extra 20 or 30 pips in the middle of a trade that way.

I have just found that the TDI gives a nice clear signal with much less umming and arghing about making a decision. Clean and simple. I LOVE IT.
Short Euro and remaining that way. That's just the way it is !
  • #5,627
  • Jun 17, 2011 9:22am Jun 17, 2011 9:22am
Quoting PipsyRussell
Hey callisto Did you ever get those arrows working? I seem to be having the same problem with them. nice tool if we can get them working!
They do work for me, not sure why they won't for anyone else, I'm sure I found them on this thread, for sure somewhere here on FF, no problem on my charts as you can see, sorry for interuption folks, but has been quiet day anyway, finish early Fridays
Attached Image (click to enlarge)
Click to Enlarge Name: ex_016.gif Size: 40 KB
OPPORTUNITY IS NOWHERE
  • #5,628
  • Jun 17, 2011 9:25am Jun 17, 2011 9:25am
Quoting maxtrader
Anyone?
Maxtrader

I'm using Ninja so the slope computation might be different. I set up a trigger to notify when the green TDI changes in 'value' from the previous candle close to the set-up candle close. I'm using a value of 3 which is working very well. This is however not exactly a 'slope' calculation so you should verify this with someone else using the MT4 platform.
  • #5,629
  • Jun 17, 2011 9:28am Jun 17, 2011 9:28am
Quoting maxtrader
Anyone?
also, what is the current HA #"s mean? In the TMS watchdog
and what is a good slope #
Good, better, best on the slope
  • #5,630
  • Jun 17, 2011 9:41am Jun 17, 2011 9:41am
Quoting ceebs
Maxtrader

I'm using Ninja so the slope computation might be different. I set up a trigger to notify when the green TDI changes in 'value' from the previous candle close to the set-up candle close. I'm using a value of 3 which is working very well. This is however not exactly a 'slope' calculation so you should verify this with someone else using the MT4 platform.

Thanks for your reply, at the moment I am using 4 and so far great, but I wanted to get more info from other metatrader users.
Regards
Indicators always obey Price, not the other way.
  • #5,631
  • Jun 17, 2011 9:46am Jun 17, 2011 9:46am
Quoting Callisto
They do work for me, not sure why they won't for anyone else, I'm sure I found them on this thread, for sure somewhere here on FF, no problem on my charts as you can see, sorry for interuption folks, but has been quiet day anyway, finish early Fridays
Thanks anyway, I think its Georgr Sorros " he's got his eye on me after dicovering this tread, does not want me taking all his money" I will just have to be Smith & Barney "Do it the old fasion Way, Earn It"
  • #5,632
  • Jun 17, 2011 9:52am Jun 17, 2011 9:52am
Quoting Callisto
They do work for me, not sure why they won't for anyone else, I'm sure I found them on this thread, for sure somewhere here on FF, no problem on my charts as you can see, sorry for interuption folks, but has been quiet day anyway, finish early Fridays
what is the arrow indicator called?????
  • #5,633
  • Jun 17, 2011 10:22am Jun 17, 2011 10:22am
Quoting PipsyRussell
Thanks anyway, I think its Georgr Sorros " he's got his eye on me after dicovering this tread, does not want me taking all his money" I will just have to be Smith & Barney "Do it the old fasion Way, Earn It"
I also could not get it to work, just froze my screen.
  • #5,634
  • Jun 17, 2011 10:26am Jun 17, 2011 10:26am
What timezone does Big E live in? I see him mentioning certain times and i need to match it up to my timezone.
Thanks!
  • #5,635
  • Jun 17, 2011 10:31am Jun 17, 2011 10:31am
http://www.compassfx.com/video/flash/12411/12411.html

I thought this was a pretty interesting video from Dean, he could almost be talking about the TMS method. His point is basically if he was trading this aggressive way he would take only the trades where the green line is at a steep angle (5 oclock or 1 oclock). He would also be mindful of what the market price is doing (whats current price doing e.g. how strong is my setup candle) and what is the trend on the higher timeframe looking like.

He also mentions being careful with major news etc.

Its like Dean has been checking out this thread - lol

Have a good weekend everyone!

Get well soon BigE!
  • #5,636
  • Jun 17, 2011 10:42am Jun 17, 2011 10:42am
talked w big e yesterday...not doing so well....please kep him in your prayers
  • #5,637
  • Jun 17, 2011 10:55am Jun 17, 2011 10:55am
Quoting milicentfx
talked w big e yesterday...not doing so well....please kep him in your prayers
All the best man, hope you get well very soon BigE.
  • #5,638
  • Jun 17, 2011 10:59am Jun 17, 2011 10:59am
Quoting dougl1965
What timezone does Big E live in? I see him mentioning certain times and i need to match it up to my timezone.
Thanks!
From what I understand from the thread Big E lives in the Pacific timezone (Los Angeles zone).
  • #5,639
  • Jun 17, 2011 11:00am Jun 17, 2011 11:00am
Quoting milicentfx
talked w big e yesterday...not doing so well....please kep him in your prayers
All the best Big E, hope you get well soon.
  • #5,640
  • Jun 17, 2011 11:06am Jun 17, 2011 11:06am
Quoting milicentfx
talked w big e yesterday...not doing so well....please kep him in your prayers
Not good news but thanks for mentioning. If you should speak to him again please tell him there's lots of people here praying for him.
97 traders viewing now