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Trading Made Simple

  • #6,201
  • Jun 24, 2011 8:08am Jun 24, 2011 8:08am
Some of the serious traders here need to have a break from Forex Factory and this thread. Why? You need to take responsibility for your own decisions and you cannot afford to have your mind constantly infected by the views of others and variation upon variation, indicator upon indicator that just distracts you. You know the system, you know it works - why do you keep hanging around? The sense of community, to learn something more - really? If you are really in this to make money it is time to step up. Do your thread catch-up reading on weekends. As good as this site can be for you, ultimately there is a point of serious diminishing returns. Just my opinion - but there a lot of the guys here that can do it - if they just did it!

Thanks to all the great and generous contributors on this thread and this is not meant to offend anyone. For the newbies - there is probably too much info on this thread already, so don't think my idea means you are missing out.
  • #6,202
  • Jun 24, 2011 8:09am Jun 24, 2011 8:09am
gbpjpy 1hr chart now.. looks like an entry as per the rules, if i am correct.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 17 KB
  • #6,203
  • Jun 24, 2011 8:10am Jun 24, 2011 8:10am
Quoting 2scoops
Read the thread - Troll

Just joking - well kind of, if it isn't for you take it or leave it, don't be disrespectful to BigE's thread he's not here to defend his system, nor does he need to do. Sling your hook troll boy or contribute to the thread.

So you call me a troll because I call it as I see it? Your opinion and you are entitled to it. This happen when you hit head right on the nail!

I have contribute, post many charts on the 4 hour, check back and see, read the thread as you say. Also, I follow this method and try to make work as other do too, but as I mention, the rules are many and the details are few and confusing.......

So unless you are forum police, I will stick around and see what happens, bit like a train wreck, and don't take my word for it, here is what they mention on other threads.....

A QUOTE "My goal for this thread is "teach and share". It is not my intention, now or ever to allow negative dialogue.

I do not want this thread turned into the "Trading made Simple" thread, where people are rude and obnoxious and blast each other. I won't allow it.

I welcome newbies to ask any question they desire without fear of retribution from "Know it all's". Just keep in mind that my answers to you might seem "curt" in nature. I won't sugar coat anything!

I want this thread and the users to be humble and polite in nature. Everyone is welcome here - "know it all's" be warned.

Keep to the method, don't change the rules and happy pippin!"
OPPORTUNITY IS NOWHERE
  • #6,204
  • Jun 24, 2011 8:11am Jun 24, 2011 8:11am
Quoting hawaii5000
Some of the serious traders here need to have a break from Forex Factory and this thread. Why? You need to take responsibility for your own decisions and you cannot afford to have your mind constantly infected by the views of others and variation upon variation, indicator upon indicator that just distracts you. You know the system, you know it works - why do you keep hanging around? The sense of community, to learn something more - really? If you are really in this to make money it is time to step up. Do your thread catch-up reading on weekends....
good post agreed...

now we dont need any more info on system or any twicking with indicators people just need to post there real time trades thats it.
Trade responsiblypatience is the key/Swing trader
  • #6,205
  • Jun 24, 2011 8:14am Jun 24, 2011 8:14am
Quoting 2scoops
Read the thread - Troll

Just joking - well kind of, if it isn't for you take it or leave it, don't be disrespectful to BigE's thread he's not here to defend his system, nor does he need to do. Sling your hook troll boy or contribute to the thread.

2scoops -

I have exactly the opposite take on Callisto's post. I think he is urging all to stay the course with Big E's method; to read until you understand; that discussion of additional indicators does nothing but confuse; that the rules are clearly stated and don't need discussion and/or modification; etc., etc., etc. And, for what its worth, I agree with Callisto. Just my $.02.
  • #6,206
  • Jun 24, 2011 8:18am Jun 24, 2011 8:18am
I think to be honest I stick around and help because I feel a debt to the BigE for the great system he has shared with us and his current health situation. Helping others actually helps you learn too. For newbies if you don't want to read 6000 posts download one of the many summary documents thats been posted here, don't come crying that your head his spinning.
  • #6,207
  • Jun 24, 2011 8:20am Jun 24, 2011 8:20am
Quoting sadler
gbpjpy 1hr chart now.. looks like an entry as per the rules, if i am correct.
sadler, it looks good on all counts except trend.
Look at the 4h TF for this pair then tell me you should be going long this pair!!
  • #6,208
  • Jun 24, 2011 8:22am Jun 24, 2011 8:22am
Quoting 2scoops
I think to be honest I stick around and help because I feel a debt to the BigE for the great system he has shared with us and his current health situation. Helping others actually helps you learn too. For newbies if you don't want to read 6000 posts download one of the many summary documents thats been posted here, don't come crying that your head his spinning.
Well said i think the same
  • #6,209
  • Jun 24, 2011 8:22am Jun 24, 2011 8:22am
Quoting johnsund
2scoops -

I have exactly the opposite take on Callisto's post. I think he is urging all to stay the course with Big E's method; to read until you understand; that discussion of additional indicators does nothing but confuse; that the rules are clearly stated and don't need discussion and/or modification; etc., etc., etc. And, for what its worth, I agree with Callisto. Just my $.02.

Hmm If that was what his post meant then I stand corrected, but it just reads like a wind up.
  • #6,210
  • Jun 24, 2011 8:24am Jun 24, 2011 8:24am
Quoting bez3000
sadler, it looks good on all counts except trend.
Look at the 4h TF for this pair then tell me you should be going long this pair!!
true.
This confuses me a bit, I am new to this method and trying to catch up with this thread, i am reached 55th page of reading this read and have started to put in to practice.
In the below image, i took the trade as you can see. its a 1h chart and the rules looked fine to me.
But like you said when i switched that to a 4h chart the rules dont allow that trade.
So from my understand if i am trading a 1hr chart do i have to confirm the trend in the 4hr chart as well.
Thanks for looking to this.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 17 KB
  • #6,211
  • Jun 24, 2011 8:25am Jun 24, 2011 8:25am
Quoting Callisto
So you call me a troll because I call it as I see it? Your opinion and you are entitled to it. This happen when you hit head right on the nail!

I have contribute, post many charts on the 4 hour, check back and see, read the thread as you say. Also, I follow this method and try to make work as other do too, but as I mention, the rules are many and the details are few and confusing.......

So unless you are forum police, I will stick around and see what happens, bit like a train wreck, and don't take my word for it, here is what they mention on...
Are you sure your not ForexCube?

Just joking, hang around here if your geniune if not sling your hook is all i'm saying.
  • #6,212
  • Jun 24, 2011 8:28am Jun 24, 2011 8:28am
Quoting dean
Your both right....I guess I am having a hard time distinguishing the well respected ones.
I know very well what you mean by paralysis...i have had it from time to time and I am a full time trader!! There are a couple of good webinars to check out if you have time....for support and resistance I like Sam Seidens point of view here... http://www.fxstreet.com/webinars/ses...3-e8f5ecee780e

But more importantly what you are going through is fear based check this out.... http://www.fxstreet.com/webinars/ses...f-77ec6ec44229

Check out Sams other webinars here... http://www.fxstreet.com/search/contr...1-e9bf77216d2f
  • #6,213
  • Jun 24, 2011 8:32am Jun 24, 2011 8:32am
iam still hangin on this simple system ....and still believe what biG_E said:
'the market is just for taking ....then go on make your daily withdrawal'

i am on my way with this great system.
  • #6,214
  • Jun 24, 2011 8:36am Jun 24, 2011 8:36am
Quoting sadler
true.
This confuses me a bit, I am new to this method and trying to catch up with this thread, i am reached 55th page of reading this read and have started to put in to practice.
In the below image, i took the trade as you can see. its a 1h chart and the rules looked fine to me.
But like you said when i switched that to a 4h chart the rules don't allow that trade.
So from my understand if i am trading a 1hr chart do i have to confirm the trend in the 4hr chart as well.
Thanks for looking to this.
I think to trade and strategy well you need a good understanding of how FX works and some of the basics. If i was trading the 1h i would want to know what the 4h and daily TF was doing, as well as support & resistance areas, location of the cross, the candle size.
All these factors push the odds in your favor.
I would recommend getting some screen time and checking out some threads / you tube vids on S&R and multiple time frame analysis.

It all helps to achieve your final goal, i think there are loads of systems on FF that work very well and can make good money but without the basics people fail and fail big time.
  • #6,215
  • Jun 24, 2011 9:35am Jun 24, 2011 9:35am
To reduce the risk when using TMS by Gmma, more success.
when u saw te trend, u'll find that it's a good position for long.
Attached Image (click to enlarge)
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  • #6,216
  • Jun 24, 2011 9:36am Jun 24, 2011 9:36am
sorry, it's not a good position for long.
  • #6,217
  • Edited 10:30am Jun 24, 2011 10:06am | Edited 10:30am
Quoting johnsund
2scoops -

I have exactly the opposite take on Callisto's post. I think he is urging all to stay the course with Big E's method; to read until you understand; that discussion of additional indicators does nothing but confuse; that the rules are clearly stated and don't need discussion and/or modification; etc., etc., etc. And, for what its worth, I agree with Callisto. Just my $.02.


I agree with you also Callisto said something I also mentioned some days ago, newbies must learn money management and many others Forex basisc, It is incredible that many are trading using 4 hour charts and booking only 20-30 pips, obviously it is the clasic fear to loss the pennies they already got, but they are letting go away sometimes hundred of pips with 4 hours charts. Just an example if you are getting 10,20 pips using 4 hour charts, how many times you need to win just to recover a 3-4 losses in a role which someday will happen no matter how you trade? Well do yor own math.
They need to demo a lot, also they need to learn a little bit of trading psychology.
Just take this opinions as a friendly advice from someone who has more than 10 years experience trading and lives from it.
Regards
Indicators always obey Price, not the other way.
  • #6,218
  • Edited 10:52am Jun 24, 2011 10:23am | Edited 10:52am
OK, a bit more about that S/R & trading paralysis stuff we were talking about earlier. Two charts below. First one shows a possible trade entry point. (I've taken out the indicators as I don't want to get into a discussion about whether it's a good entry point or not. That's not the point.)

The red horizontal line shows yesterday's low. Potential support. So you see if that level has any history, so to speak. The second chart shows really clearly that this area has provided support and resistance a number of times in the past. EDIT: actually ignore that... both charts cover same timeframe *DOH*... sorry it's late Friday afternoon! But the principle still holds.... should have shown it all on one chart.

Remember to think of S&R as areas, not exact numbers.

And there's one more element - a biggie. The level is very close to a big number: 0.8850. So potentially strong support here.

First thing to note is that the chart isn't full of horizontal lines. Just the important one as I see it.

Anyway, this is where paralysis could strike! But why? If you trade at the point the screenshot was taken and it moves down to the support level, you're about 18 pips up. You could move your stop loss in to break even perhaps, and let the trade run in the hope that it'll break through that support. Or you could just call it a quick scalp and get out. Personally I'd probably do the former, but that's just how I like to trade. Don't mind throwing back a few sprat to catch the odd mackerel!

To quote Eelfranz on page 1 of this thread: Even if I scalp the market I use 4hr charts with success....

Either way, you haven't lost anything - but you're gaining experience. And to re-emphasise, screen time is everything when it comes to getting to grips with this stuff.

sr trade 1.jpg
sr trade 2.jpg
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sr trade 1.jpg Size: 187 KB
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  • #6,219
  • Jun 24, 2011 10:35am Jun 24, 2011 10:35am
Quoting bigtent
Only on the EU this time.... testing out a trailing EA I knocked up for this method.

Hi buddy,

Wanted to know more about your trailing EA, can this EA only be used to set SL BE only. ie, you set it to move your stop lose to your enty point and some more pips like plus 3 or 4 pips. This covers spread.

I am looking for such an EA which also does not have nothing to do with your TP targets. Just an EA that only moves SL to Break even entry no more no less. Plain and Simple. Has nothing to do with taking profit or closing trades. Will like to us it with this TMS strategy.

Thanks
Born to rule my Economic World and Make a Difference!
  • #6,220
  • Jun 24, 2011 12:30pm Jun 24, 2011 12:30pm
Quoting sharemaster2
Hi buddy,

Wanted to know more about your trailing EA, can this EA only be used to set SL BE only. ie, you set it to move your stop lose to your enty point and some more pips like plus 3 or 4 pips. This covers spread.

I am looking for such an EA which also does not have nothing to do with your TP targets. Just an EA that only moves SL to Break even entry no more no less. Plain and Simple. Has nothing to do with taking profit or closing trades. Will like to us it with this TMS strategy.

Thanks
I don't want to polute the thread but there was an EA thread started for this method.

http://www.forexfactory.com/showthread.php?t=292301
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