Trading Made Simple | Page 298 | 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

  • #5,941
  • Jun 21, 2011 8:13am Jun 21, 2011 8:13am
Quoting mackaozy
Hi

I have a question which hopefully someone will be able to answer.
Do you guys wait for candle close after TDI cross, or just enter on TDI cross? Thanks
If you use the TDI that bigE use, we enter at the start of the first or second candle. The tdi only moves when a new candle forms, so when we have a cross, automaticaly a new bar forms. So i always wait for a new candle, and if we have a cross i pull the trigger.
  • #5,942
  • Jun 21, 2011 8:38am Jun 21, 2011 8:38am
Mackoazy,

As you can tell everyone kinda trades this system just a bit
differently. I work nights so I don't have the time to wait for
the candle to close. So when I see the cross with good forex
fundamentals I take the trade.

Good fundamentals to me are patterns. For example double
bottoms or double tops. I also use fibonacci retracements to
see where the levels are. You know the 50% level, 61.8, 38.2,
23.6. Price tends to go towards a level. Are we approaching
the 38.2 level or are we sitting on the level.

So take your hi and low of the fibonacci retracement levels and figure
out where are we and possibly where are we going to go. And
when you see the cross take the trade and hope for the best.
It all comes down to a probability. 80% of the time your correct
and 20% your wrong. Cut your losses and let your winners run.

snarlyjack
  • #5,943
  • Jun 21, 2011 8:39am Jun 21, 2011 8:39am
Watching NZDUSD 1H chart.
  • #5,944
  • Jun 21, 2011 8:41am Jun 21, 2011 8:41am
Quoting Thierry
If you use the TDI that bigE use, we enter at the start of the first or second candle. The tdi only moves when a new candle forms, so when we have a cross, automaticaly a new bar forms. So i always wait for a new candle, and if we have a cross i pull the trigger.
This is not true the TDI can and does move inbetween candle opens. It will even cross in between candles.

But, this method stipulates that you wait for a cross AND an open of the next candle AND that it is candle 1 or 2.

It just so happens that opens have a larger effect on it's movement. So, you wait until an open for confirmation.
  • #5,945
  • Jun 21, 2011 8:42am Jun 21, 2011 8:42am
Quoting mackaozy
Hi

I have a question which hopefully someone will be able to answer.
Do you guys wait for candle close after TDI cross, or just enter on TDI cross? Thanks
Hi Mackaozy

I always wait for the candle to close after the cross. Otherwise, there are too many fakeouts; crosses that look good but then PA pulls back before the candle closes and essentially there is no cross. Its certainly more aggressive and if it works you can grab more pips. Personnaly though, I'd rather increase the probability and miss a few pips
  • #5,946
  • Jun 21, 2011 8:43am Jun 21, 2011 8:43am
anyone else waiting for the NZD news @ 11:45PM GMT time? ill sit on my hands till then
  • #5,947
  • Jun 21, 2011 9:06am Jun 21, 2011 9:06am
Quoting KumoDragon
This is not true the TDI can and does move inbetween candle opens. It will even cross in between candles.

But, this method stipulates that you wait for a cross AND an open of the next candle AND that it is candle 1 or 2.

It just so happens that opens have a larger effect on it's movement. So, you wait until an open for confirmation.
If you not refresh your charts (move to other tf) the TDI will nog change, only when a new candle forms. That is what i thought, maybe i am wrong.
  • #5,948
  • Jun 21, 2011 9:32am Jun 21, 2011 9:32am
Quoting Thierry
If you not refresh your charts (move to other tf) the TDI will nog change, only when a new candle forms. That is what i thought, maybe i am wrong.
You are wrong and right. Sometimes it doesn't repaint without a refresh. But, price moving can make it refresh midcandle and change angle.
  • #5,949
  • Jun 21, 2011 9:54am Jun 21, 2011 9:54am
Snarly & all thanks for your replies!

Quoting snarlyjack
Mackoazy,

As you can tell everyone kinda trades this system just a bit
differently. I work nights so I don't have the time to wait for
the candle to close. So when I see the cross with good forex
fundamentals I take the trade.

Good fundamentals to me are patterns. For example double
bottoms or double tops. I also use fibonacci retracements to
see where the levels are. You know the 50% level, 61.8, 38.2,
23.6. Price tends to go towards a level. Are we approaching
the 38.2 level or are we sitting on the level.

So take your...
  • #5,950
  • Jun 21, 2011 10:01am Jun 21, 2011 10:01am
Me I'm sitting here like a dog licking my "u know what" I decided to sit back and wait for this greasy euro to work it self out. I hate watching those pips go by. Looks like we got a 50% retace from the high and hopefully a phys level of .4400 we will see. I guess maybe uncle Bernanke may have something to say about this in the next 24 hours. happy pippin all!
  • #5,951
  • Jun 21, 2011 10:14am Jun 21, 2011 10:14am
whats your views on the usd/cad h1 the TDI is at 2 o clock, the first candlestick is setting now, just awaiting for the 2nd one now i see that it has hit a r level on 0.9710

P.S - I know the green tdi hasn't crossed the red tdi signal yet I'm hoping this does by the 2nd candle otherwise I'll pass this one..
  • #5,952
  • Jun 21, 2011 10:17am Jun 21, 2011 10:17am
Quoting Thierry
If you not refresh your charts (move to other tf) the TDI will nog change, only when a new candle forms. That is what i thought, maybe i am wrong.
Some posts say check higher timeframe, some posts say check lower timeframe; I say check them all ........ and why anyone wouldn't want to trade based on the latest information (refresh charts) is way beyond my comprehension
OPPORTUNITY IS NOWHERE
  • #5,953
  • Jun 21, 2011 10:29am Jun 21, 2011 10:29am
Quoting xp3000
whats your views on the usd/cad h1 the TDI is at 2 o clock, the first candlestick is setting now, just awaiting for the 2nd one now i see that it has hit a r level on 0.9710

P.S - I know the green tdi hasn't crossed the red tdi signal yet I'm hoping this does by the 2nd candle otherwise I'll pass this one..
I just don't know if I like the time of day? Slowing Down?
  • #5,954
  • Jun 21, 2011 10:49am Jun 21, 2011 10:49am
am I wrong or today there is no momentum, market is flat on almost pairs ? I mean on 4h charts I couldn't find any setup.... I'm watching 9 charts...
  • #5,955
  • Jun 21, 2011 10:54am Jun 21, 2011 10:54am
Quoting acosma
am I wrong or today there is no momentum, market is flat on almost pairs ? I mean on 4h charts I couldn't find any setup.... I'm watching 9 charts...
Spot on. The market is in flux with the euro debacle. Tonights parliament meeting should help. A day for sitting on hands!
  • #5,956
  • Jun 21, 2011 11:04am Jun 21, 2011 11:04am
Quoting ceebs
Spot on. The market is in flux with the euro debacle. Tonights parliament meeting should help. A day for sitting on hands!
Ya, stopped out at BE AU, +16 GU, +26 EU took it out myself. Didn't want to hold on and possibly have a loss.

I'm actually waiting for some good looking TDI shorts to show themselv's. All this long there's gonna be a good drop somewhere. But, have to wait and see and be patient, with all this EU bailout or failure nonsense, EU could very well go up a few hundred pips before a good short set up.

I just check at the start of every 4H candle, no cross, no bounce no trade.......... With the markets the way they are now, these are the types of movements that make anything less than 4H very hard to trade.
  • #5,957
  • Jun 21, 2011 12:15pm Jun 21, 2011 12:15pm
Quote
As you can tell everyone kinda trades this system just a bit
differently. I work nights so I don't have the time to wait for
the candle to close. So when I see the cross with good forex
fundamentals I take the trade.

Good fundamentals to me are patterns. For example double
bottoms or double tops. I also use fibonacci retracements to
see where the levels are. You know the 50% level, 61.8, 38.2,
23.6. Price tends to go towards a level. Are we approaching
the 38.2 level or are we sitting on the level.

So take your hi and low of the fibonacci retracement...

Snarlyjack,

Thanks for the further insight. I was thinking, "He couldn't possibly just be taking solid crosses and checking back 9 hours later? Does he have nerves of steel?"

This helps to understand your thought process. Do you also consider daily pivots and the myriad S/R lines one could draw up? Curious as to the weighting you might place on these considerations. I'm working towards getting the nerve and ability to let it ride like you do due to my time constraints. Seems like I've seen plenty of hook backs on the TDI to keep me a little nervous about your methodology.

Thank you.
  • #5,958
  • Jun 21, 2011 12:34pm Jun 21, 2011 12:34pm
If I well understood most of last posts all of S/R levels are good reasons to not take entry positions.

But reading all Big E posts, my opinion is that TDI crossing permitts, according to basic rules, to take entries without any other considerations (except 1st and 2nd candle after crossing, and from my opinon an GL > 50 for a Long position).

S/R are then used to determinate exits (TP) with a SL and position sizing adapted to this TP.

To conclude I would like to say that you can always find a S/R that doesn't allow you to take a position.

Determinate an entry level is always easier to find than the right exit level (keeping in mindMM and position sizing).

Feel free to tell me where I'm wrong from your view.
  • #5,959
  • Jun 21, 2011 12:38pm Jun 21, 2011 12:38pm
Quoting ceebs
Hi Mackaozy

I always wait for the candle to close after the cross. Otherwise, there are too many fakeouts; crosses that look good but then PA pulls back before the candle closes and essentially there is no cross. Its certainly more aggressive and if it works you can grab more pips. Personally though, I'd rather increase the probability and miss a few pips
I would love to wait for the candle close, but due to work i can not always. As long as i have a good cross below (if long or above if short) of the 50 and price has closed across the 5ma and is not sitting close to S&R or consolidating i am in.
I also check the daily trend and only trade with it.

This has been working well for me on demo for the last couple of weeks, sometimes i can not check every 4 hours if i am stuck in a meeting etc... which can cost me but it sometimes helps me by keeping my trade open when i would have closed it and it goes well.

I plan on staying on demo for another couple of weeks (no rush market will always be around) then if i stay in the black i am going live.

Last week i netted over 1000 pips but i made a couple of rushed stupid trades yesterday so this week i am running at about +20 having lost about 200 on avoidable stupid trades dooooooooooooo
  • #5,960
  • Jun 21, 2011 12:46pm Jun 21, 2011 12:46pm
Quoting poudos
If I well understood most of last posts all of S/R levels are good reasons to not take entry positions.

But reading all Big E posts, my opinion is that TDI crossing permits, according to basic rules, to take entries without any other considerations (except 1st and 2nd candle after crossing, and from my opinion an GL > 50 for a Long position).

S/R are then used to determinate exits (TP) with a SL and position sizing adapted to this TP.

To conclude I would like to say that you can always find a S/R that doesn't allow you to take a position....
poudos i mark S&R and i do use them for exits but only if price pauses around them i don't use TP i let the candles tell me when to close.

Regarding entries i only look left and note if price is sitting at a previous level of interest and if so i might wait for price to break it, but apart from that i like to enter well away from S&R and let price run towards a level.

Hope this makes sense (it's been a long day)
78 traders viewing now, 1 is registered:
Davidwang99