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Trading Made Simple

  • #6,301
  • Jun 27, 2011 8:34am Jun 27, 2011 8:34am
Quoting gio.kele
usd-cad -9 pips
usd-chf +1 pips
gu sell h1
gj sell h1
gu sell h1
gj sell h1
I took them as well @ 2.02pm GMT when the new candle showed up and all rules met,
not looking good atm.
  • #6,302
  • Jun 27, 2011 9:15am Jun 27, 2011 9:15am
Quoting gio.kele
usd-cad -9 pips
usd-chf +1 pips
I took them, too. I put SL at the swing high on usdcad and hung on, biting my nails, to around -27 pips. But that's how the rules work so I stuck to them. But I'm getting better at MM - at 27 pips my risk is only 1.5%.

I'm planning to try to hang on the that usdchf trade for a while. It touched the bottom of a long channel on the weekly TF. If it bounces up it could go a long way.

Both pairs just ran back to around BE. Let's see where they go now.
Luck occurs when preparation meets with opportunity.
  • #6,303
  • Jun 27, 2011 9:21am Jun 27, 2011 9:21am
This is off topic. Please does anyone have an EA that is very simple to use to manage open trades in such away that can automatically move my stoploss to BE+y pips after certain moves. I think someone gave it earliar but cant find it again. I will appreciate it if someone can show me the link or share it for personal use.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #6,304
  • Jun 27, 2011 9:22am Jun 27, 2011 9:22am
Quoting geoffgjones
At the moment I am using a 15PIP SL and a BE at 6 pips, with a trailing sl starting at 10pips up 6 pips behind. Do you think that the trailing stop is to close?

I am out of the EUR/JPY only 10pips up.

Geoff
Hi Geoff

To my mind, that's all far too tight. I took a long on this pair earlier today... had to go out so couldn't monitor, so placed a SL in just below the 114.50. That was 25 pips below the buy if I remember rightly. (Have since moved it to break even.)

Trailing a SL at -6 seems way too tight. You're going to grab a few small wins here and there but you're giving it no room to breathe at all. This system can get you into some big moves but you're missing any chance of that happening. I manually move SL to break even usually at something like +20 to +30. Sometimes a bit tighter if it all looks a bit iffy. Then if it goes my way, I'll continue moving SL up to protect profits, but never giving it less that 20 pips breathing space.
  • #6,305
  • Jun 27, 2011 9:31am Jun 27, 2011 9:31am
Quoting gio.kele
EUR-JPY,EUR-CHF h4
USD-CAD sell h1
AUD-USD h1 looks like setup but i pass it resistant to close.
Could you share your support and resistance indicator please ?
The Mind creates reality.
  • #6,306
  • Jun 27, 2011 9:36am Jun 27, 2011 9:36am
Cheers for your feedback Dave. Will loosen up and take a little more risk!

Thanks,

Geoff
  • #6,307
  • Jun 27, 2011 9:39am Jun 27, 2011 9:39am
Quoting adeforex
This is off topic. Please does anyone have an EA that is very simple to use to manage open trades in such away that can automatically move my stoploss to BE+y pips after certain moves. I think someone gave it earliar but cant find it again. I will appreciate it if someone can show me the link or share it for personal use.
Try this link:
http://www.forexfactory.com/showthread.php?t=242277
  • #6,308
  • Jun 27, 2011 9:42am Jun 27, 2011 9:42am
Quoting adeforex
This is off topic. Please does anyone have an EA that is very simple to use to manage open trades in such away that can automatically move my stoploss to BE+y pips after certain moves. I think someone gave it earliar but cant find it again. I will appreciate it if someone can show me the link or share it for personal use.
http://www.forexfactory.com/showthread.php?t=89371
This will do just about anything you want

I have attached an other but you'll have to look for a seach for the doc on use Pretty much set MaxBrokerSlippage to 30 or 300 then set the rest
Attached File(s)
File Type: ex4 UpdateStops(2).ex4   12 KB | 525 downloads
  • #6,309
  • Jun 27, 2011 10:07am Jun 27, 2011 10:07am
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...
Silversurfer, I just wanted to thank you for sharing the triggerlines. Thus far, i have found them to be very reliable. Whilst they have kept me out of trades that i would have made pips on, they have also kept me out of trades that i would have lost on, which suits my risk-averse nature!

Cheers
  • #6,310
  • Jun 27, 2011 10:11am Jun 27, 2011 10:11am
Quoting DayTraderBiH
Could you share your support and resistance indicator please ?
You don't need any indicators apart from your eyes.
  • #6,311
  • Jun 27, 2011 10:17am Jun 27, 2011 10:17am
Did anyone else enter on this trade

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  • #6,312
  • Jun 27, 2011 10:24am Jun 27, 2011 10:24am
Below i have included my current trades for today, hopefully someone will find them useful.

cadjpy = +30
euraud = +115
eurgbp = +30
eurjpy = +62
gbpcad = +100

Total = +337 for today.

I wish everyday could be like today has been.

I am also watching :
audnzd
nzdjpy
audjpy
usdcad
nzdusd
All have potential depending on how the current candle closes, i expect i will only trade a couple of them.

Comment welcome
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  • #6,313
  • Jun 27, 2011 10:33am Jun 27, 2011 10:33am
thank you wrenski and dryclean. i will try them.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #6,314
  • Jun 27, 2011 10:38am Jun 27, 2011 10:38am
Quoting bez3000
Below i have included my current trades for today, hopefully someone will find them useful.

cadjpy = +30
euraud = +115
eurgbp = +30
eurjpy = +62
gbpcad = +100

Total = +337 for today.

I wish everyday could be like today has been.

I am also watching :
audnzd
nzdjpy
audjpy
usdcad
nzdusd
All have potential depending on how the current candle closes, i expect i will only trade a couple of them.

Comment welcome
Good job man, im happy for. Thats some mad pips
  • #6,315
  • Edited 10:49am Jun 27, 2011 10:39am | Edited 10:49am
Quoting bez3000
You don't need any indicators apart from your eyes.
Amen to that.

I've seen indicators that tell you when the TDI has crossed. Except you've got to look at it anyway to see the angle. Oh of course, there's an indicator for that too. How about how close it is to the 32/68? One for that too? Great, then you can cut the TDI out completely. Who needs one indicator when you can have three?

An indicator for s/r? Brilliant. One that can look across multiple timeframes and identify where the strongest areas of s/r have been in the past? And see when they correlate with big numbers etc? And cut out all the weak ones? Didn't think so.

And how about those I've seen that show whether a particular timeframe is trending bullish or bearish? Nice and black and white. (Or green and blue as the case may be.) But it doesnt work like that. There are weak trends and strong trends. There are times when the market is ranging (does it tell you that?) These factors affect your trading decisions surely? So you've got to look at the charts anyway, right?

When will people realise that all you need to make this system work are the indicators given on the first page? More to the point, I believe that the use of these is damaging. People rely on them so they stop looking at and learning to analyse price action.

It ain't rocket science. It ain't complicating things. It's basic forex.
  • #6,316
  • Jun 27, 2011 10:48am Jun 27, 2011 10:48am
Bez, Dave, you are right. My page now looks like a war zone. I will simplify down to the bear min to get this system working for me, instead of the other way round! It will be hard, but I will get this right if it kills me!
Bez, you are the king. Thanks for your post. Gives me some hope that I will make some pips at some point.

What times do you usually trade? Are there times when you will not trade?

Cheers,

Geoff
  • #6,317
  • Jun 27, 2011 10:51am Jun 27, 2011 10:51am
Quoting bez3000
Below i have included my current trades for today, hopefully someone will find them useful.

cadjpy = +30
euraud = +115
eurgbp = +30
eurjpy = +62
gbpcad = +100

Total = +337 for today.

I wish everyday could be like today has been.

I am also watching :
audnzd
nzdjpy
audjpy
usdcad
nzdusd
All have potential depending on how the current candle closes, i expect i will only trade a couple of them.

Comment welcome

I see you have taken the h4 chart only through out.
Dont you use other time frames, and you just being successfull with h4.
Do you use h4 for london session as well.

cheers
  • #6,318
  • Jun 27, 2011 11:01am Jun 27, 2011 11:01am
Quoting sadler
I see you have taken the h4 chart only through out.
Don't you use other time frames, and you just being successfull with h4.
Do you use h4 for london session as well.

cheers
I only trade from the 4h TF but i use Daily to check trend direction. I don't have time to trade 1h or anything smaller, i want the bigger moves 4h provides.
My advice to all is keep it simple, use the indicators provided and trade with the trend. KISS!!!
  • #6,319
  • Jun 27, 2011 11:10am Jun 27, 2011 11:10am
Quoting geoffgjones
Bez, Dave, you are right. My page now looks like a war zone. I will simplify down to the bear min to get this system working for me, instead of the other way round! It will be hard, but I will get this right if it kills me!
Bez, you are the king. Thanks for your post. Gives me some hope that I will make some pips at some point.

What times do you usually trade? Are there times when you will not trade?

Cheers,

Geoff
I try and check the charts when i can and trade when i see a good setup. I don't watch news apart from NFP Fridays for the USD.

Normally watch the 9am candle before heading out then it depends on my working day if i get to see the 1pm candle, if not it's the 5pm and 9pm. i am not very strict on that as i have a day job as well.
  • #6,320
  • Jun 27, 2011 11:23am Jun 27, 2011 11:23am
Quoting bez3000
I only trade from the 4h TF but i use Daily to check trend direction. I don't have time to trade 1h or anything smaller, i want the bigger moves 4h provides.
My advice to all is keep it simple, use the indicators provided and trade with the trend. KISS!!!
What kind of sl do you set when you trade and the tp on a 4hr TF.
and i assume you take the trade at the beginning of the 4th hour and run it through until the next candle forms.
hope you dont mind asking questions, I see the simple rules working, but i am finding it hard to set my rules such as tp, sl and also number of trades.

cheers
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