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Trading Made Simple

  • #6,221
  • Jun 24, 2011 1:15pm Jun 24, 2011 1:15pm
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.
I stick around to make Pips, Big fat jucy Pips, Little scrawny Pips, what ever kind of Pips. I want Goerge Sorros's Pips and I want all your Pips. I want Big Pips, Medium Pips, Small Pips, Clean Pips, Dirty Pips, Nasty Pips. I should be no different then you: "unless your here just to jerk your chain". I could care less if I ask the Biggest Stupidest Idiotic Question thats ever came down the pike, if it gets me towards my Goal! "Making Pips Baby" If your new? your here for you and knowbody else. The only one you have to impress is yourself. The only one you have to answer to is yourself. Don't be afraid to ask questions, any question. Take the Good and throw away the Garbage! and Make Pips.
  • #6,222
  • Jun 24, 2011 1:35pm Jun 24, 2011 1:35pm
Hey is there a chart below this?
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  • #6,223
  • Jun 24, 2011 2:05pm Jun 24, 2011 2:05pm
Quoting Callisto
Good luck with that, your post already buried !!!

You know there is something wrong with a system when -

1. A newcomer asks for advice and the best they can do is say "read the thread" READ THE THREAD? READ THE THREAD? READ THE THREAD? If the method cannot be explained in the opening posts by the originator and backed up by clear, concise charts showing entry & exits, well, let me tell you, reading 6,000+ posts isn't going to help you be a better...

I've re-read your post Callisto, I think I was a very harsh on you pal, I agree with your post - I thought you were having a general pop at BigE and his system, it seems you were merely pointing out some people on here are running round like headless chickens without first taking the time to study the system, sorry if I offended you. I'm going to take a step back from the thread for a while, I think i'm a bit frazzled from posting. I wish you all good luck and a great weekend. Someone PM when BigE is back.

Cheers
  • #6,224
  • Jun 24, 2011 6:20pm Jun 24, 2011 6:20pm
I have being trying to catch up with 400+ pages of reading, its being over 1 week and i have just completed 110 pages spending 2-3 hrs a day.
At this pace it would take me 3weeks + to reach 400 pages and by the time i get there it would cross 600.. phew..

I am trying this simple method following the rules since a few days now , with not much success, trying to learn from my mistakes.

Have the rules changed or new rules added to this strategy after the 110th page.

When i take a trade in 1hr chart after confirming all the rules are positive, so i need to check for the trend in 4hr trade as well.

earlier i saw a long entry in 1hr which met all rules, but when i switched to 4hr it was a short trend. what do we do in such cases.
Do we need to confirm by checking the trend in the 4h before placing order in the 1hr?

Also can any member give me the compiled ex4 version of the tdi along with the indicators so that i know i am upto date.

Cheers.
  • #6,225
  • Edited 6:53pm Jun 24, 2011 6:40pm | Edited 6:53pm
Quoting sadler
[size="3"]I have being trying to catch up with 400+ pages of reading, its being over 1 week and i have just completed 110 pages spending 2-3 hrs a day.
At this pace it would take me 3weeks + to reach 400 pages and by the time i get there it would cross 600.. phew..

I am trying this simple method following the rules since a few days now , with not much success, trying to learn from my mistakes.

Have the rules changed or new rules added to this strategy after the 110th page.

When i take a trade in 1hr chart after confirming all the...
Welcome to the thread. All you need to read is the first few pages. Anything else is just human ego, people adding and adding more indicators with the hope to make this great system more perfect. I like to say something about the different time frames. I personally don't like to look at bigger time frames, nor BigE is mentioning anything about it. Every time frame has it own trend, so it doesn't matter if the H4 chart shows a long but you have a good short setup on the H1. Each time frame has its own character...So no need to complicate things..
I also want to point out that the trading times make a big difference with this method. A nice setup right before the London open 3-4 hours prior) will increase the probability for success.
About the money management. The originator is suggesting to put a Stop loss at the swing of the trend. When we look at the historical charts we can see it hardly gets hit.(H4 and above) Now when this SL is say %2 of our account, the R:R makes huge sense. Obviously not all of our trades are profitable, so even if there is a directional change this luckily occurs before the SL (%2) is hit, so we are actually risking way less then %2. I hope people start focusing on this aspect, instead of: "Hey found another spicy indicator".
  • #6,226
  • Edited 6:54pm Jun 24, 2011 6:49pm | Edited 6:54pm
Quoting sadler
I have being trying to catch up with 400+ pages of reading, its being over 1 week and i have just completed 110 pages spending 2-3 hrs a day.
At this pace it would take me 3weeks + to reach 400 pages and by the time i get there it would cross 600.. phew..

I am trying this simple method following the rules since a few days now , with not much success, trying to learn from my mistakes.

Have the rules changed or new rules added to this strategy after the 110th page.

[size=3]When...
In answer to your questions above:

 

  1. You can stop reading now. The best, most pure instructions and insight into this system can be found in the first 50 pages.
  2. Hang in there, the system works. The market does work well in trending markets (like most do) and less well in choppy market conditions. Trading the first four hours in London and the first four hours in NY will give you the best of the market conditions most of the time.
  3. The rules have not changed since Post 1.
  4. Pick a timeframe and trade that timeframe. Big E has said that the system works well on any timeframe and it does, and you can optimise your chances by finding areas of PA, FIB, S/R confluence. Traders seemed to have enjoyed the most success on the 4H and the 1H.
  5. For the latest and greatest indicators, just go to the paperclip link at the top of the page. You will find the best ones on the first page. While you are there, there is a couple of summaries people have generously developed over time that contain the most salient instructions from the thread originator.

Best of luck. (well now you have been told twice!)

  • #6,227
  • Jun 24, 2011 7:02pm Jun 24, 2011 7:02pm
Quoting DaveUK
You're more than welcome. Your contributions (and those of other regular contributors) have helped me greatly in getting to grips with this system. Happy to try and give something back. What 2scoops said: 'Watch out for strong areas where price has bounced off a number of times. The last high or low is of course important too. You tend to find these strong areas of S&R form on big number areas too.' is bang on. I'll try to post up a trade that illustrates this when I can find one!!!
Dave and 2scoops...again, thank you both.
Scoops I have that indicator somewhere, I will load it on to my charts. That may rid the confusion. Thanks guys.
  • #6,228
  • Jun 24, 2011 7:06pm Jun 24, 2011 7:06pm
Please pay attention on the R;R here...
After we enter the trade the angle of the TDi gives us a hinsight. When we are in profit and the Tdi forms towards the opposite or looses its angle, the trader decides to close the trade or re-enters if price continues. Good money management plays a big role here.
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  • #6,229
  • Jun 24, 2011 7:21pm Jun 24, 2011 7:21pm
Quoting cce
For myself, I tend to go back to the first page and reread Big E's intro to this thread...always catches my eye when I read about not just how much time he put into refining this method but that his goal was to hit a 70-80% win rate and a method that could be used on all TF's...
Over the course of applying his discoveries to my trading it became clear to me that if I was afraid to lose a trade after entering per the rules of a setup, then it was because I was over leveraged...(GREED) in my case...
You will lose, on average, 20-30% of your trades...
Thanks Cliff I will have a look at the video.
Trust me its not greed...I am only trading with mini lots. I have no desire to jump in and use big money. Its overanalysing. I appreciate your input and I awill look at the vid. Thanks Cliff.
  • #6,230
  • Jun 24, 2011 7:31pm Jun 24, 2011 7:31pm
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.
I agree....I think its essential as a trader whether a newbie or experienced to have constant communication with other traders. We all have families and friends and support, but unless they are actually trading the same way we are, they dont know the mindf*&^ck this game can be and its important to speak with others who do. I only see it as beneficial....it helps you....it stops complacency and gives you other views on your trades.....its your decision what you take from others advice but we are all human and we miss stuff...others sometimes see what we cant. If you are content with your take on the method and you dont wish to be involved in the thread.....dont...otherwise...chip in and help...its no big deal either way.....I like it and I plan to continue contributing.
  • #6,231
  • Jun 24, 2011 7:33pm Jun 24, 2011 7:33pm
Quoting XxLessoxX
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...
Much appreciated...I will have a look. cheers
Dean
  • #6,232
  • Jun 24, 2011 8:25pm Jun 24, 2011 8:25pm
Folks, tell me one single system, that does not make money during trending markets. What about ranging times? A fellow respected trader once said: "If you can survive the non trending times, you will make it." Trading is a business. There is no business that makes money 12 month a year. There are peak seasons, slow times and bad times. The ones who know how to manage this will be rewarded. When I am introduced to a trend following system, I look at ranging times, how does it perform, how much will I loose. Here is an interesting chart for the Usd/Cad during May23 and June 15th. I did some manual backtesting. I had about 26 signals, 15 were negative. Now the best part is, none of these negative entries hit the SL. Meaning it was very small losses.End of June 15th, I had a suprising 27 pips in profit. Well, it was a ranging market and my balance was not effected. I would be very interested to see how people here perform during those times. The best part about a ranging market is of course, that it is followed by huge trends...
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  • #6,233
  • Jun 25, 2011 1:38am Jun 25, 2011 1:38am
Quoting aren
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.

Hi Aren,

Can you pls share the GMMA indicator with setting to me?

I'll give it a try.
  • #6,234
  • Jun 25, 2011 3:05am Jun 25, 2011 3:05am
Quoting The7
Folks, tell me one single system, that does not make money during trending markets. What about ranging times? A fellow respected trader once said: "If you can survive the non trending times, you will make it." ...
The7

A very good point. Identifying a ranging market and acting accordingly can have a huge impact on your P&L. I've back tested with this strategy for all of the major pairs, for different time frames and over different periods and the results differ significantly. Surprisingly, and similair to what you noted, even during the choppy/ranging periods, the results were positive (applying the strategy correctly along with basic forex rules). However, and similiar to any trading strategy or system, its much more difficult to rack up pips during a ranging market, and at times the best management strategy is to step back and avoid the market until is begins trending again.
Concerns over the Euro are having a significant impact on the markets and accordingly the past six weeks have been more difficult to trade, with more head fakes and less follow through. The key is to identify that the market is behaving differently and adjust your strategy/expectations or management techniques accordingly. Not loosing pips should be the number one goal in a non trending market. The trends will return and you need to have your account intact to take advantage.

Hopefully the unknowns about Greece and the Euro will soon end, one way or the other.

Best of luck
  • #6,235
  • Jun 25, 2011 4:39am Jun 25, 2011 4:39am
Quoting The7
Folks, tell me one single system, that does not make money during trending markets. What about ranging times? A fellow respected trader once said: "If...
Its all about ranging markets, trending markets are easy.
We must understand where the first trouble area is, where will price stall?
Look at the left, last highs or lows, maybe a RN or BRN?
Most of the time its better to wait for a breakout or do not trade.
Trading is very difficult, so try to keep the system easy as possbile as per BigE rules. Stop posting fancy indicators that not help.
I hope to see BigE back very soon!

Here are some nice links of SR: http://www.forexfactory.com/showthre...16#post2252116

I will not make any advertising to other threads, its just to help.
  • #6,236
  • Edited 4:48am Jun 25, 2011 4:43am | Edited 4:48am
Quoting Android38
Hi Aren,

Can you pls share the GMMA indicator with setting to me?

I'll give it a try.
First Page - GMMA Guppy 5m and 1m @ Forex Factory

First Page - Guppy GMMA in 3D @ Forex Factory

First Page - 1000+ MT4 Indicators ) @ Forex Factory

What up with thiose links, I find them by search but hwne I click them, comes up invalid?

Try this one more First Page - Guppy Multiple Moving Avarages (GMMA) @ Forex Factory
OPPORTUNITY IS NOWHERE
  • #6,237
  • Jun 25, 2011 5:11am Jun 25, 2011 5:11am
Quoting aren
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.
I know its not part of the original rules but i love this indi, i traded with it on a 5 min system about a year ago. If your having trouble identifying the trend it can really help and is worth having a look at at. No need to discuss it on this thread there are plenty others out there that explain it
  • #6,238
  • Jun 25, 2011 6:36am Jun 25, 2011 6:36am
Just in case I don't make it as a trader, I'm reading this on the weekend
Brain Surgery for Dummies

Brain Surgery for Dummies is not just a "how to" manual. True, it contains detailed step-by-step recipes for the procedures one would expect: frontal lobotomy, craniotomy, etc., along with several classics from the golden age of barber-surgery. It also provides extensive background material on the brain, including its crucial importance even for Dummies. And it is packed with interesting tips and tidbits ranging from advice to keep the scalpel sharp to a warning that most countries require some sort of licensure before permitting most of the procedures described within.

http://improbable.com/airchives/pape...i5/dummies.htm
OPPORTUNITY IS NOWHERE
  • #6,239
  • Jun 25, 2011 7:33am Jun 25, 2011 7:33am
Yep, yep...if your testing an upload application...


Quoting PipsyRussell
Hey is there a chart below this?
I get exercise just pushing my luck
  • #6,240
  • Jun 25, 2011 8:02am Jun 25, 2011 8:02am
Quoting The7
Welcome to the thread. All you need to read is the first few pages. Anything else is just human ego, people adding and adding more indicators with the hope to make this great system more perfect. I like to say something about the different time frames. I personally don't like to look at bigger time frames, nor BigE is mentioning anything about it. Every time frame has it own trend, so it doesn't matter if the H4 chart shows a long but you have a good short setup on the H1. Each time frame has its own character...So no need to complicate things.....
Thanks the7 for the insight, I do have a few clarifications , may be you or anyone could comment when free.
-while trading the 1hr chart as per the rules, lets say its 9.55am and the next candle forms in 5 mints , and as soon as the next candle shows up and the if the green crosed read and stoch confirm we enter the trade right. thats when we get the max profit i guess
- while entering a 1hr chart trade after all rules agreeing there is no need to check the 4hr chart ? to see if the trend is in the same direction.
-best time to trade using these TMS is from 2hrs prior to london session , am i right.
-using 4hr chart to trade after the US session close , right
Appreciate your comments.
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