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Trading Made Simple

  • #7,221
  • Jul 6, 2011 7:48am Jul 6, 2011 7:48am
Watch out for the 1.60 big round number. Important levels. I've not taken this trade because of this BRN.
  • #7,222
  • Jul 6, 2011 7:51am Jul 6, 2011 7:51am
Quoting Pecunia
I read the whole thread myself, but to tell you the truth the first 50 pages are enough really to understand the rules and see some good and bad trades that people posted. If you continue to read you wil see some modifications to the TDI like a repainting one or a TDI with a funny purple tail an a lot of extra indicators, alarms etc. that just clutter you screen IMHO.
I'm with you Pecunia, Removed everything but the TDI and the MA. Less equals more. Great thread with a system that rewards patience. It's good for me cos I am not a patient person.

S GU +61
S EJ +99
S GJ +25 (taken from Retracement and cross on 15 min chart)
Short Euro and remaining that way. That's just the way it is !
  • #7,223
  • Jul 6, 2011 7:53am Jul 6, 2011 7:53am
Quoting demoreal
Trying my luck again - this time with GU. Anybody else short?
I didn't take that one because I'm not sure if it will have enough power to break 1.6000 level

Edit: You beat me to it Thierry
  • #7,224
  • Jul 6, 2011 7:54am Jul 6, 2011 7:54am
Quoting Thierry
Watch out for the 1.60 big round number. Important levels. I've not taken this trade because of this BRN.
Hi Thierry and Pecunia.
Agree with you - that's a big round number. I'll stay some more and maybe lower the stop. Also good to see how it goes around 15:00 (London time) - US PMI (very important report)
  • #7,225
  • Jul 6, 2011 7:59am Jul 6, 2011 7:59am
Quoting The7
If Price Action doesnt work on Daily Time frame, it wont work nowhere..Look at this beauty...
I'm still in this trade. The7 are you still planning to cash out around .8940? It's trying to get below .8950 now. It bounced off this level a few weeks ago as resistance in the bull run, and it may turn into support now. I think if it breaks with any momentum I'll target .8900 to exit. If it hesitates much more now I'll get out now.
Attached Image (click to enlarge)
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Luck occurs when preparation meets with opportunity.
  • #7,226
  • Jul 6, 2011 8:02am Jul 6, 2011 8:02am
My first post to FF and have been following this thread for a few weeks. I can't help noticing all of the questions and indecision from many traders regarding this trading system.

The author has presented a very simple and effective method with clear and concise rules.

Its seems experienced traders are making pips, while new or less experienced traders are still trying to figure it out.

If you are new or having difficulty with this system, stop trading.

You need to back test this system - that is, look back historically at how the system has performed based on the rules explained by the author.

Study and document the valid set ups, numbers of wins and losses, % of drawdown, duration of trade to hit profit targets, etc. This will give a blueprint of the system’s performance and erase the doubt. It will confirm if the system has net positive or negative profitability.

Do this for each pair you intend to trade.

As a trader for several years, I have found back testing to be the most important confidence builder - to confirm a system's viability, recognize valid signals and execute trades without hesitation.

After entering my trade parameters, I walk way. One of two things will happen; I will reach my profit targets or get stopped out. All we can do is control our risk, the rest is up to the market.

All I care about is that the system over time is profitable and therefore I don't worry about a losing trade.

May I suggest that you trade the time frames noted by the author - 1 Hr and 4 Hr. High profitability and low stress.

It takes work. But if you do the work, the money will take care of itself.
  • #7,227
  • Jul 6, 2011 8:07am Jul 6, 2011 8:07am
Long on the AUD USD

Short on the USD CHF

Anyone else in these trades?
  • #7,228
  • Jul 6, 2011 8:14am Jul 6, 2011 8:14am
Quoting Wbm
Long on the AUD USD

Short on the USD CHF

Anyone else in these trades?
I don't trade H1 but if I did I wouldn't trade these because:

audusd shows a short setup on daily and H4
usdchf cross is below 50 on H1 and moving into big round number 0.8400

Hope this helps
  • #7,229
  • Jul 6, 2011 8:16am Jul 6, 2011 8:16am
Still short on E/J from 117.45

1st target hit at 116.35
2nd target at 115.32

Stops at 116.00
  • #7,230
  • Jul 6, 2011 8:25am Jul 6, 2011 8:25am
WBM

With Pecunia on the AUDUSD - if anything, was considering it a short on the 4hr.

Standing back until the 3.00 PMI too
  • #7,231
  • Jul 6, 2011 8:25am Jul 6, 2011 8:25am
Hello Friends! pls answer me was this short entry valid for audusd? Thanks
Attached Image (click to enlarge)
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  • #7,232
  • Jul 6, 2011 8:29am Jul 6, 2011 8:29am
Quoting geobull
Hello Friends! pls answer me was this short entry valid for audusd? Thanks
Like this trade but watching PA at the moment. Personnaly I watch the 15min to confirm momentum in my favour (when trading the 4hr) . Also, be aware of 1.0650 support
  • #7,233
  • Jul 6, 2011 8:29am Jul 6, 2011 8:29am
I would have been leery as the TDI cross came from the mid range.
Hope that helps
Leona

Quoting geobull
Hello Friends! pls answer me was this short entry valid for audusd? Thanks
  • #7,234
  • Jul 6, 2011 8:30am Jul 6, 2011 8:30am
thanks my friends for quickly answer.
  • #7,235
  • Jul 6, 2011 8:35am Jul 6, 2011 8:35am
Quoting ceebs
Like this trade but watching PA at the moment. Personnaly I watch the 15min to confirm momentum in my favour (when trading the 4hr) . Also, be aware of 1.0650 support
So as i understood you use 15min for exit yes? if change 15min time frame again me i close postions yes? thanks Ceebs
  • #7,236
  • Jul 6, 2011 8:41am Jul 6, 2011 8:41am
Quoting MeLe
Check post 7168, do not trade against the daily trend. I am short EUR/USD on the daily with stop now in profit, hoping that this is just a pullback.
Regards

Is this also a Big E rule?
Thanks
Indicators always obey Price, not the other way.
  • #7,237
  • Jul 6, 2011 8:43am Jul 6, 2011 8:43am
Quoting Pecunia
I don't trade H1 but if I did I wouldn't trade these because:

audusd shows a short setup on daily and H4
usdchf cross is below 50 on H1 and moving into big round number 0.8400

Hope this helps
and there is this news in 15 minutes

USD

ISM Non-Manufacturing PMI

  • #7,238
  • Jul 6, 2011 8:44am Jul 6, 2011 8:44am
[quote=maxtrader;4755808]Is this also a Big E rule?
Thanks[/QUO
I don't think is Big E' rule, just basic Forex. You never want to go against the daily trend.
  • #7,239
  • Jul 6, 2011 8:44am Jul 6, 2011 8:44am
But aren't the TDI lines flat on those time frames?


Quoting Pecunia
I don't trade H1 but if I did I wouldn't trade these because:

audusd shows a short setup on daily and H4
usdchf cross is below 50 on H1 and moving into big round number 0.8400

Hope this helps
  • #7,240
  • Jul 6, 2011 8:45am Jul 6, 2011 8:45am
Quoting maxtrader
Is this also a Big E rule?
Thanks
I think it's a basic forex rule
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