Trading Made Simple | Page 307 | 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

  • #6,121
  • Jun 23, 2011 12:57am Jun 23, 2011 12:57am
Silver

Could you just point out the rules that you use for entries, based on the charts you posted. (Not wanting to change eels method, but I'm interested how others are using it)

Thanks

GG
Now trading live
  • #6,122
  • Edited 1:41am Jun 23, 2011 1:16am | Edited 1:41am
Quoting Gg33
Silver

Could you just point out the rules that you use for entries, based on the charts you posted. (Not wanting to change eels method, but I'm interested how others are using it)

Thanks

GG
Folks

Alot of time and effort, and especially from Big E, has been put into developing and delivering the TMS system in a simplified manner , so that we can all learn from it and incorporate it into our trading strategies, if we desire.

In keeping with the objective for this forum and if nothing else, out of respect for Big E, all discussion about enhancements/variations and other indicators which are not part of Big E's system should be taken elsewhere or at a minumum PM'd.
  • #6,123
  • Jun 23, 2011 1:17am Jun 23, 2011 1:17am
1. I'm pretty sure it doesn't repaint at the end of the time frame - no guarantee though
2. Nothing sexy, just the standard entry and exit according to the TMS rules the only caveat being that I wait for the trigger lines to change colour. Take all the usual stuff into consideration ie TDI cross, S&R, strength of trend - how many bars etc, what are the higher TF's telling me, upcoming news.
I decided to take the CHFJPY with a half lot trade just to see if how it would pan out.
  • #6,124
  • Jun 23, 2011 1:29am Jun 23, 2011 1:29am
No problem and not intended.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 24 KB
  • #6,125
  • Edited 2:35am Jun 23, 2011 2:07am | Edited 2:35am
Quoting snarlyjack
...Your not comparing apples to apples. What I would suggest is
that you use $0.00 in your money management. For example
a lot of times I'll be down $20 - $30.00 just to watch it turn
around and go back up. (gotta give it room to breathe).

Lets say the pips are down 45. To Eelfranz that is $450.00.
To me that is $45.00. $45.00 in my book is not bad. $450.00
is. So look at the amount of "heat" that you can afford to take.

The real question is: "heat" what is your "heat" comfort level.

snarlyjack
I take your point, but would offer an opposing view...

I would argue that whether you're trading $10, $1 or $.10 a pip, you should use exactly the same money management rules. If your aim is to grow your account, so you are able to trade progressively larger sums and therefore make increasing profits, then you must follow the same money management rules from the word go.

The question isn't about the heat you can stand in terms of $. It's about the heat you can stand as a % of your account. A $40 loss may constitute, say, a 2% account loss to you or I. But to another trader, a $400 (or even $4000) loss may constitute that 2%.

If a trader's maximimum drawdown on one trade is 2%, then whether that loss in financial terms is $40, $400 or $4000 should make no difference. In fact, it MUST make no difference.

I guess what I'm saying is that a winning system is a winning system. If you're successful enough trading $1 a pip and you build your account so you can trade $2 a pip, then $5 and eventually $10 a pip, you can't then change your way of trading just because there's more money at stake. Well you can, but it'd be potentially suicidal.
  • #6,126
  • Jun 23, 2011 2:09am Jun 23, 2011 2:09am
Quoting silversurfer
If anyone is interested I thought I would share my chart set up.
I use the standard HA candles and TDI red green from BigE's posts.
I have also included a TMS window which shows me 3 timeframes.
The only thing I have added is a set of trigger lines instead of the standard MA that Big E uses. I predominantly trade the H4 time frame and my methodology is pure TMS for entries with one additional filter which is that the trigger lines must have changed colour also. The attached GU H4 chart identifies 10 trades of which 9 were winners along with the...
Hi silversurfer,

How you are seeing 10 trades in this chart. Could you please explain? I am new to this system. I assume if the TMS color matches all the timeframe you take the trade, is that right?

Have a great day
  • #6,127
  • Jun 23, 2011 2:17am Jun 23, 2011 2:17am
Quoting silversurfer
Trigger line indi
Thank you Silversurfer for the indicator. It helps conforming TDI signals

arasheed
  • #6,128
  • Jun 23, 2011 2:52am Jun 23, 2011 2:52am
Quoting dean
Hi scoops.
I am only asking yu this becasue you seem to have similar ideas and trade similarly to me. I was wondering if you could pm me the settings you finalised in the watchdog in regards to all the candle height and alert settings etc. If you could just open the settings up and maybe take a screenshot. And could you explain or is there somewhere where I can read an explanation of what the indicaotr is telling me...as in what is the writing on the right of the screen actually telling me?? and why is the end of the green line a pink colour?? I...
I would advise you to set them up as you see fit, what do you think is a good slope to your eye?

However Plamen is using these settings (or he was two weeks ago). I still use these settings:


Slope Threshold: 4.5
Bounce Threshold: 3.0 (last 2 slopes unsigned difference)
Bounce Min Slope (Green slope when bouncing): 3.8
Bounce Max Distance: 2.7

Then set a minimum candle size threshold - maybe 10 for H1 20 for H4 50 for the Daily? - choose your own, maybe a customised one for each pair.
  • #6,129
  • Jun 23, 2011 2:57am Jun 23, 2011 2:57am
eur-usd, usd-chf, usd-jpy.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-06-23_115440.jpg Size: 179 KB
Click to Enlarge Name: 2011-06-23_115453.jpg Size: 189 KB
Click to Enlarge Name: 2011-06-23_115501.jpg Size: 190 KB
  • #6,130
  • Jun 23, 2011 3:20am Jun 23, 2011 3:20am
Gents,

As I'm learning this system and great thanks to Big E, one line that keeps popping up is news, many people say dont trade when there is big news etc..

but looking within the FF calendar they're "Big impact" news everyday, or should i only be looking out for certain news posts? because like alot of people within this thread who is just starting out, I want to make sure no one makes the mistake I made yesterday when I traded during one of the most important news releases which killed my SL (didn't know at the time) hense why i'm writing this post to help myself and others
  • #6,131
  • Jun 23, 2011 3:47am Jun 23, 2011 3:47am
H4 TF isn't effected as much by news, I find the market goes quiet anyway before big news usually, I have twitter accounts setup following people like 50pips they usually give me a heads up before the "REAL" major news items (and also adhoc ones that don't appear on FF).
  • #6,132
  • Jun 23, 2011 4:11am Jun 23, 2011 4:11am
[quote=xp3000;4718878]Gents,

As I'm learning this system and great thanks to Big E, one line that keeps popping up is news, many people say dont trade when there is big news etc..

XP3000

At a minimum, you need to be aware of the big news events. How you do or do not trade around them or because of them will depend on your personnal style, but trading oblivious to them will definately hurt.

The forex factory news calander service is excellent. It highlights the potential impacts of each news story and even offers a brief explanation of how the numbers can impact the market.

Another goos site is: www.forexlive.com.
These guys are pretty good at reporting breaking news events or comments from different heavy weights in the economic/financial arena.

Keeping an eye on these should help you avoid some nasty surprises.

Good luck
  • #6,133
  • Jun 23, 2011 4:25am Jun 23, 2011 4:25am
Quoting bez3000
just entered this trade as it meets my criteria, i will be looking for price to make it to my lower TL or for the HA candles to tell me it's not going to make it
Do you ignore stochastics?
  • #6,134
  • Jun 23, 2011 4:25am Jun 23, 2011 4:25am
Quoting xp3000
Gents,

As I'm learning this system and great thanks to Big E, one line that keeps popping up is news, many people say dont trade when there is big news etc..

but looking within the FF calendar they're "Big impact" news everyday, or should i only be looking out for certain news posts? because like alot of people within this thread who is just starting out, I want to make sure no one makes the mistake I made yesterday when I traded during one of the most important news releases which killed my SL (didn't know at the time) hense why i'm...
I was caught in the same trade on eurusd yestaday because it escaped my mind to check the news at that time.Never knew that it was a big news.
Just as 2scoops said, 4hr tf are hardly affected by many news especially if the momentum is high unless if in a ranging zone. Just looked at what happened after the FOMC news of yesterday, clean signals all over, saw it but was not really interested because of the time that it happened and was not really concentrating, but see what has happened within 12 hours.Major news causes stares alot.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #6,135
  • Jun 23, 2011 4:28am Jun 23, 2011 4:28am
gbp chf if any body trades this one it may be worth a look on the 4h
  • #6,136
  • Jun 23, 2011 4:37am Jun 23, 2011 4:37am
Quoting TheMaxx
Do you ignore stochastics?
Correct I don't use stochastics, I have found that they normally agree withthe TDI cross so don't clutter my screen with them anymore
  • #6,137
  • Jun 23, 2011 4:40am Jun 23, 2011 4:40am
Quoting 2scoops
H4 TF isn't effected as much by news, I find the market goes quiet anyway before big news usually, I have twitter accounts setup following people like 50pips they usually give me a heads up before the "REAL" major news items (and also adhoc ones that don't appear on FF).
I follow 50pips on twitter and his blog - he is very insightful and his levels are like magic. Who else do you follow that could give me a heads up on news etc?
  • #6,138
  • Jun 23, 2011 4:41am Jun 23, 2011 4:41am
Quoting bez3000
Correct I don't use stochastics, I have found that they normally agree withthe TDI cross so don't clutter my screen with them anymore
Thanks
  • #6,139
  • Jun 23, 2011 4:44am Jun 23, 2011 4:44am
Quoting TheMaxx
I follow 50pips on twitter and his blog - he is very insightful and his levels are like magic. Who else do you follow that could give me a heads up on news etc?
gregmikeFX
JamieSaettele
RagheeHorner
CMEGroup

I only follow them for news though, I don't follow their chart analysis/trade advice.
  • #6,140
  • Jun 23, 2011 4:56am Jun 23, 2011 4:56am
Quoting 2scoops
gregmikeFX
JamieSaettele
RagheeHorner
CMEGroup

I only follow them for news though, I don't follow their chart analysis/trade advice.
Thanks
60 traders viewing now, 1 is registered:
Otherworldly