Trading Made Simple | Page 353 | 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

  • #7,041
  • Jul 5, 2011 1:26am Jul 5, 2011 1:26am
Quoting 2scoops
Good post - people often confuse trading made simple as just trading any cross we see. We want to be selective of the crosses we take, being aware of your S&R areas (especially where they form on big numbers/pivot points/fib levels) is key as it should be with any system.
Here is a trade setup that I personally would never take. price is too close to S/R levels..
Attached Image (click to enlarge)
Click to Enlarge Name: awq.jpg Size: 95 KB
  • #7,042
  • Jul 5, 2011 1:28am Jul 5, 2011 1:28am
Quoting demoreal
Hi 2scoops.
Why don't you check post no 6987?
I did BigE misunderstood your question I confirmed this via a PM to him:


Quoting eelfranz
2scoops..... your right
Quoting eelfranz






Quoting 2scoops
Bige,

Welcome back, sorry about the length of this question.

In your recent post you answered this question:

2) Should I wait for the cross and the closure of that 4 hour candle and then enter on the opening of the new candle only after the cross is there?

Answer:

2. yes on candle 1 or 2


I think his question was if he sees a cross should he wait until the candle closes (and thus the cross is confirmed) then get in at the start of the next candle.

My response to this would have been - no we don't wait for the candle to close, if its candle #1 or #2 and we have a valid cross at the beginning of the candle we get in right at the start, we don't wait for it to close.

Am I wrong here? sorry I just think he didn't word his question very clearly.

Thanks,

2scoops.
No waiting for a close. Again it might be a valid method but its not TMS.
  • #7,043
  • Jul 5, 2011 1:31am Jul 5, 2011 1:31am
Another bad setup. Can you see how your R:R rates are low? I make sure it's at least 1:1 which is not the case here.
Attached Image (click to enlarge)
Click to Enlarge Name: awq.jpg Size: 94 KB
  • #7,044
  • Jul 5, 2011 1:42am Jul 5, 2011 1:42am
Quoting maxtrader
Also from I can see the entry was at the third candle, and people were told that It should be the first or the second candle. Maybe Big E could clarify this.
Its called a bounce trade, notice how the TDI flattens and then when the next candle opens the green line bounces down again at a good angle = bounce trade.
  • #7,045
  • Jul 5, 2011 1:55am Jul 5, 2011 1:55am
Quoting 2scoops
I did BigE misunderstood your question I confirmed this via a PM to him:

[b][size="5"]


No waiting for a close. Again it might be a valid method but its not TMS.
Hey scoops,
I think the confusion in this may lie with the time span of the candle. As in....lets say the 1st reversal 4 hour candle is headed in the right direction but the cross doesnt happen until we are say an hour or two into the candle...do you still enter or wait and enter at the opening of the 2nd candle. Reason being is...as some are posting.....sometimes that first candle can reverse on you and even uncross your tdi. I understand this is a judgement call, but you may be able to explain it better to others.
  • #7,046
  • Jul 5, 2011 2:13am Jul 5, 2011 2:13am
Hi Guys, Please comment on these trades
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart setup eurchf.gif Size: 23 KB
Click to Enlarge Name: chart setup usdcad.gif Size: 23 KB
  • #7,047
  • Jul 5, 2011 2:15am Jul 5, 2011 2:15am
Quoting The7
Price will try to go to the weekly Pivot Point which is 1.0648. R:R was 1:3,5
That was a nice setup. Lets not miss these trades while we can make money with this system. Bad news is no system is profitable forever..
Hey The7,

When you say "Bad news is no system is profitable forever." What do you mean by this? Why would this system stop being profitable? Are you talking about TMS?
  • #7,048
  • Jul 5, 2011 2:21am Jul 5, 2011 2:21am
Quoting dean
Hey scoops,
I think the confusion in this may lie with the time span of the candle. As in....lets say the 1st reversal 4 hour candle is headed in the right direction but the cross doesnt happen until we are say an hour or two into the candle...do you still enter or wait and enter at the opening of the 2nd candle. Reason being is...as some are posting.....sometimes that first candle can reverse on you and even uncross your tdi. I understand this is a judgement call, but you may be able to explain it better to others.
Well BigE would need to answer that one I think. BigE if something crosses mid candle is it ok to get in on the next candle?
  • #7,049
  • Jul 5, 2011 2:22am Jul 5, 2011 2:22am
Took this on the back of some great advice from adeforex....check his post's on candles...very important.
  • #7,050
  • Jul 5, 2011 2:44am Jul 5, 2011 2:44am
hi everyone,
if you have 2 to3 trades going at same time on mt4 and you want to close them all at once is there a way of doing it or do you have to close them one at a time? i know it's of subject but i asked my wife and she had no idea lol.http://www.forexfactory.com/images/icons/icon7.gif
  • #7,051
  • Jul 5, 2011 2:49am Jul 5, 2011 2:49am
Morning all i have attached some charts from trades i placed this morning after a rocky day yesterday (I will not trade holidays again).

ENJOY


Quoting bez3000
My first trade of the week and i am going you guys, short looks good to me.
Update on this my first trade of the week (AUDUSD) is +40 and still open.
PreetEnzo & PreetEnzo are you still in this trade?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cj.gif Size: 21 KB
Click to Enlarge Name: ec.gif Size: 22 KB
Click to Enlarge Name: gc.gif Size: 19 KB
  • #7,052
  • Jul 5, 2011 3:09am Jul 5, 2011 3:09am
Quoting 2scoops
Well BigE would need to answer that one I think. BigE if something crosses mid candle is it ok to get in on the next candle?
No I am asking you scoops...lets say you assess a trade and it looks ok....how far into the candle do you consider to be the opening?? as in the rules state entry is at the opening of a candle, but how far into that candle would you consider ok to enter??
  • #7,053
  • Jul 5, 2011 3:20am Jul 5, 2011 3:20am
[quote=bez3000;4751004]Morning all i have attached some charts from trades i placed this morning after a rocky day yesterday (I will not trade holidays again).

ENJOY



Update on this my first trade of the week (AUDUSD) is +40 and still open.
PreetEnzo & PreetEnzo are you still in this trade?

here is my update. Closed my A/u for -22 pips, e/c up by 60 pips, also took the c/j and thinking about taking the g/c as per your thread, we'll see what happens. Thanks for the info

happy trading to all
  • #7,054
  • Jul 5, 2011 3:22am Jul 5, 2011 3:22am
Quoting dean
No I am asking you scoops...lets say you assess a trade and it looks ok....how far into the candle do you consider to be the opening?? as in the rules state entry is at the opening of a candle, but how far into that candle would you consider ok to enter??
Dean, We all have our own take on this I wouldn't like to speculate and cause confusion over the rules. I think its a common question and it does need to be cleared up.



So the questions for BigE are now:

1, How long after the opening of the candle can we get in on a cross?

2, If we get a cross mid candle, do we wait until the next candle forms to enter the trade?
  • #7,055
  • Jul 5, 2011 3:23am Jul 5, 2011 3:23am
10 minutes to UK data
  • #7,056
  • Jul 5, 2011 4:17am Jul 5, 2011 4:17am
If Price Action doesnt work on Daily Time frame, it wont work nowhere..Look at this beauty...
Attached Image (click to enlarge)
Click to Enlarge Name: awq.jpg Size: 120 KB
  • #7,057
  • Jul 5, 2011 4:21am Jul 5, 2011 4:21am
Took this trade before London. Closed it with 64 pips, gaining %3 to my equity. Left another %3 on the table, which is ok
Attached Image (click to enlarge)
Click to Enlarge Name: awq.jpg Size: 101 KB
  • #7,058
  • Jul 5, 2011 4:35am Jul 5, 2011 4:35am
[quote=PreetEnzo;4751108]
Quoting bez3000
Morning all i have attached some charts from trades i placed this morning after a rocky day yesterday (I will not trade holidays again).

ENJOY



Update on this my first trade of the week (AUDUSD) is +40 and still open.
PreetEnzo & PreetEnzo are you still in this trade?

here is my update. Closed my A/u for -22 pips, e/c up by 60 pips, also took the c/j and thinking about taking the g/c as per your thread, we'll see what happens. Thanks for the info

happy trading to all

Too bad you missed the big A/U move Preetenzo. This was a 120 pip opportunity, with only 25 pips risk. No worries, you will catch it later..
  • #7,059
  • Jul 5, 2011 4:43am Jul 5, 2011 4:43am
Could anybody please share again the original version(indicators & template)for this very interesting trading system? Thanks!
  • #7,060
  • Jul 5, 2011 4:47am Jul 5, 2011 4:47am
Quoting The7
If Price Action doesnt work on Daily Time frame, it wont work nowhere..Look at this beauty...
Nice chart, The7. I took the trade. I love setups on the higher tfs.
Luck occurs when preparation meets with opportunity.
44 traders viewing now