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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

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Trading Made Simple

  • #7,301
  • Jul 6, 2011 1:11pm Jul 6, 2011 1:11pm
Quoting The7
Who wants to make money? 73 pip potential...
hello i am using the charts Recommended by Big E..
EU AU EY GY UY UCH UCA ECH EG

what others are valid for this method?
  • #7,302
  • Jul 6, 2011 1:30pm Jul 6, 2011 1:30pm
Quoting The7
Who wants to make money? 73 pip potential...

Looks interesting - lower TFs are still moving

Do you set a TP at the pivot or manually close out?
"To live with Passion, it takes Courage and Grace to survive"
  • #7,303
  • Jul 6, 2011 1:33pm Jul 6, 2011 1:33pm
Quoting dcginc
I use Average True Range which works very effectively with this system.

I trade two standard lots per trade on the 4 Hr chart.

Example: if the ATR on the signal candle is 52 pips.

Stop Loss is 2 x ATR = 104 pips

Profit Target 1 is 2 x ATR = 104 pips (1:1 Risk Reward)

When Profit Target 1 is reached, take off one lot and move stop to break even

Profit Target 2 is 4 x ATR = 208 pips. I move stop in 25 - 30 pip increments while approaching Target 2. This is a free trade as stops are at break even.

Duration of trades as long as 72- 96...

Nice mm approach.

Do you ever look for "Add On" signals as the trade develops? - typically trading on H4 by dropping down to H1 you will see new fractal breaks occuring giving good "Add On" signals.
"To live with Passion, it takes Courage and Grace to survive"
  • #7,304
  • Jul 6, 2011 1:40pm Jul 6, 2011 1:40pm
Quoting dcginc
If your mind can not process what you are seeing, or there is too much iniformation, the result is a biological mental lock down - analysis paralysis. Thus, the fear to enter the trade because of uncertainty.

Back testing creates the repetition of . . . What do I see? What does it mean? What do I do?

This repetition will train your brain to instantly recognize the setups and prepare you to take action.

Compiling the statistics will prove the trading plan and system are profitable.

This combination will develop confidence in taking action...
Thanks for this excellent advice, dgcinc. I particularly like the analogy below!

Quote

Similar to driving, or any other skill you can perform with little or no conscious analysis.
  • #7,305
  • Jul 6, 2011 1:41pm Jul 6, 2011 1:41pm
I never add to an open position.

I use the same stop and profit targets while scalping on 1 Hr charts as I do swing trading the 4 Hr charts.

It just works. It is a very low anxiety, low maintenance mm system.

The paradox is simply . . . the less time I spend in front of my charts, the more profits I bank.
  • #7,306
  • Jul 6, 2011 1:43pm Jul 6, 2011 1:43pm
All positions now closed

Entries on H4 between 8pm and 10pm PST

a/u -45 long- trade reversed after 4 hours :-(
e/a +82 short
g/j +69 short
e/g +27 short

pip count for the week +203

net profit @ +20%

pip count since May 23rd (switching over to TMS on H4 and Day charts) +1,024

After this weekend my modified trade plan includes not trading into a holiday weekend (Thusday evening / Friday) and not trading on holidays - would have saved myself 100 pips! Lack of volume / lack of momentum.
"To live with Passion, it takes Courage and Grace to survive"
  • #7,307
  • Jul 6, 2011 1:45pm Jul 6, 2011 1:45pm
Your are very welcome.

This is a proven way to learn any skill and will help anyone willing to do the back testing work for their trading plan and system.
  • #7,308
  • Jul 6, 2011 1:47pm Jul 6, 2011 1:47pm
Hi all,

I have tried endlessly to get email alerts on TDI cross to no effect. Can someone helpout? Anyone with a TMS-watchdog indi that is tested with email alerts? Mine does not send email.

I work in a financial institution and i can't remain glued to the screen. I want to recieve email alerts when the follwoing occurs:

1. When Green cross red up or down
2. When bounce occur up or down

So anyone got indi that can do this?
  • #7,309
  • Jul 6, 2011 2:08pm Jul 6, 2011 2:08pm
Quoting bishopdotun
Hi all,

I have tried endlessly to get email alerts on TDI cross to no effect. Can someone helpout? Anyone with a TMS-watchdog indi that is tested with email alerts? Mine does not send email.

I work in a financial institution and i can't remain glued to the screen. I want to recieve email alerts when the follwoing occurs:

1. When Green cross red up or down
2. When bounce occur up or down

So anyone got indi that can do this?
ign up for email account with lavabit.com. Im sure their are their other emails that work with MT4, but this is what i use. [/color]

SMTP SERVER : lavabit.com:587
SMTP LOGIN :[email protected] (your log in name)
SMTP PASSWORD : your password

FROM: [email protected]

TO: your email address, where you would like to receive the email.

send test message, if it doesn't work, close your mt4 and restart MT 4. It should work. [/color]

Let me know if it works
  • #7,310
  • Jul 6, 2011 2:11pm Jul 6, 2011 2:11pm
Quoting The7
Who wants to make money? 73 pip potential...
Seven: It looks like a trade with possibilities and I've taken it. Are you putting in S/L and T/P numbers? I will have to as I cannot monitor the trade very closely due to work and family considerations. jack
  • #7,311
  • Jul 6, 2011 2:16pm Jul 6, 2011 2:16pm
Quote
Nice mm approach.

Do you ever look for "Add On" signals as the trade develops? - typically trading on H4 by dropping down to H1 you will see new fractal breaks occuring giving good "Add On" signals.

I never add to an open position.

I use the same stop and profit targets while scalping on 1 Hr charts as I do swing trading the 4 Hr charts. (Using ATR of Signal candle)

It just works. It is a very low anxiety, low maintenance mm system.

The paradox is simply . . . the less time I spend in front of my charts, the more profits I bank.
  • #7,312
  • Jul 6, 2011 2:49pm Jul 6, 2011 2:49pm
Quoting dcginc
I use Average True Range which works very effectively with this system.

I trade two standard lots per trade on the 4 Hr chart.

Example: if the ATR on the signal candle is 52 pips.

Stop Loss is 2 x ATR = 104 pips

Profit Target 1 is 2 x ATR = 104 pips (1:1 Risk Reward)

When Profit Target 1 is reached, take off one lot and move stop to break even

Profit Target 2 is 4 x ATR = 208 pips. I move stop in 25 - 30 pip increments while approaching Target 2. This is a free trade as stops are at break even.

Duration of trades as long as 72- 96...
may I ask which ATR are you using for? could you post an chart with it please?
Thanks
Humble & Kalcker CLO2 = Covid killer
  • #7,313
  • Jul 6, 2011 3:00pm Jul 6, 2011 3:00pm
Quoting dcginc
I never add to an open position.

I use the same stop and profit targets while scalping on 1 Hr charts as I do swing trading the 4 Hr charts. (Using ATR of Signal candle)

It just works. It is a very low anxiety, low maintenance mm system.

The paradox is simply . . . the less time I spend in front of my charts, the more profits I bank.
Could not agree more - If I have the luxury of time, add-ons are always good but I enjoy the overnight trading - place trades / close charts / sleep / wake up / open charts / close trades.
"To live with Passion, it takes Courage and Grace to survive"
  • #7,314
  • Edited 6:41pm Jul 6, 2011 3:25pm | Edited 6:41pm
In on 4hr last night at 11:45pm est 1.44566
Out at 3:37am est 1.43765 Target met
Hard Stop Loss 50pips

80 pips standard lot while sleeping
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-4h.gif Size: 15 KB
  • #7,315
  • Jul 6, 2011 3:56pm Jul 6, 2011 3:56pm
[quote=Pecunia;4756125]
Quoting maxtrader

I just keep it simple dude:

Daily trend up= look for long trades on H4
Dailiy trend down= look for short trades on H4

Maybe I miss out on a couple of pips like that 300 pip upswing on eurchf last week but it keeps me on the safe side...
Thanks for telling me how you trade, but I asked if following the daily trend was part of Big E rules, thanks anyway.
Indicators always obey Price, not the other way.
  • #7,316
  • Jul 6, 2011 4:10pm Jul 6, 2011 4:10pm
Quote
may I ask which ATR are you using for? could you post an chart with it please?
Thanks

I use MT4 charts and the standard ATR that comes with the platform.

I do not yet know how to post a chart.

I drop the ATR indicator onto my TDI indicator and select color "None" with a period of 7.

It will display the ATR of the current candle in the text line along the top of the indicator window with no line on the TDI indicator.

Hope that helps.

Sorry for the ineptness. Just learning how to post, etc,. here on FF.
  • #7,317
  • Jul 6, 2011 4:31pm Jul 6, 2011 4:31pm
EURGBP sell +15
EURUSD sell +42
EURJPY sell +74
EURCHF sell +55

total 186 pips!

Thanks to all who are helping us!
  • #7,318
  • Jul 6, 2011 5:03pm Jul 6, 2011 5:03pm
Quoting jackdood
Seven: It looks like a trade with possibilities and I've taken it. Are you putting in S/L and T/P numbers? I will have to as I cannot monitor the trade very closely due to work and family considerations. jack

I never use hard Stop Losses. They will only confirm your defeat. I dont want to get caught in a spike or sudden move. I just take manual losses when I see price changes direction. With Take Profit, yes..I love hard TP's. I use pivots as my exits...
  • #7,319
  • Jul 6, 2011 5:09pm Jul 6, 2011 5:09pm
Quoting pipdude
eurusd long entry on 30m
eurusd long entry on 30m, closed +0.
  • #7,320
  • Jul 6, 2011 5:11pm Jul 6, 2011 5:11pm
Hi Eelfranz, what is the stochastic slope and how is it different from the regular stochastic? Thanks
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