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Trading Made Simple

  • #7,861
  • Jul 12, 2011 9:30am Jul 12, 2011 9:30am
I will trade E/U U/Cad and maybe A/U in 30 min. I see good setups there

the e/u gpt a major psych line on 1.4000 so stil thinking `bout it...
  • #7,862
  • Jul 12, 2011 9:35am Jul 12, 2011 9:35am
Quote
After looking at recent posts, I am thinking that most live traders are no longer following the system as was. With the introduction of trend lines, pivot points, lower time frames et. al. is there anyone still using the system?

Quote
I'm pretty sure that's still part of the system and is considered part of the Forex Basics (Support/Resistance, Fibs, Trendlines, ect.) Big E keeps talking about.

Gents,

If I may . . . the system is designed to deliver a signal. How you interpret that signal is based on your individual knowledge, experience and trading style. Big E has described his interpretation and his qualification for a valid set up based on that. It is very simple and easy to follow, thus “Trading Made Simple.”

The #1 reason for hesitation in placing an order on a valid signal is you don't have a belief in the system or know the probability of the outcome as presented by Big E. My posts have addressed this issue ad nauseum.
The need for the introduction of other indicators, although unnecessary in my view, is based on the place where you reside in your trading education and experience.

If you are familiar with and regularly use fibs lines, or pivots, etc.- that’s great.

Develop the use of these tools into your set of rules so that you view the market consistently. That’s really the key. If a trade set up violates your belief that fibs are a reversal point, then it is not valid set up for your rule set – pass on the trade. Same idea for pivots. Just use them consistently and get rid of the things that contradict what your fibs and pivots are telling you.

Asking other traders what they think if they do not use these same tools is like asking a Dentist what’s wrong with your ankle. They do not know how to respond.

No need for frustration – that is why I maintain that the thread and system is a framework. You must adapt it to your own trading style and knowledge level. If you want to trade like Big E, then follow his rules and get rid of the fibs and pivots. If you don’t and want to, then adapt the system to use them – that’s perfectly awesome! Just don’t ask Big E what he thinks about anything outside his rules!
  • #7,863
  • Jul 12, 2011 9:36am Jul 12, 2011 9:36am
Quoting FTimeForex
Anyone else like long for EURGBP & EUR USD on the 4HR? Just checking to see if what I'm seeing looks good to anyone else. Thanks in advance.
I'm a total newb so take it for what its worth... But I'm long in AU and EU 4h right now, up about 15 pips at the moment between the two....
  • #7,864
  • Jul 12, 2011 9:37am Jul 12, 2011 9:37am
eur/gpb has just formed a short signal in H1. Watch out!
  • #7,865
  • Jul 12, 2011 9:37am Jul 12, 2011 9:37am
My template from post #1....

I went to compassfx.com and downloaded:

1. TDI removing all lines but green and red.
2. APB (average price bars)
3. Synergy removing top yellow moving average

  • #7,866
  • Jul 12, 2011 9:41am Jul 12, 2011 9:41am
Quoting dcginc
Gents,

If I may . . . the system is designed to deliver a signal. How you interpret that signal is based on your individual knowledge, experience and trading style. Big E has described his interpretation and his qualification for a valid set up based on that. It is very simple and easy to follow, thus “Trading Made Simple.”

[font=Arial]The #1 reason for hesitation in placing an order on a valid signal is you don't have a belief in the...

Aw cool. I thought when Big E talked about Forex Basics he was talking about things like Support/Resitance, Trends and Fibs. But looks like he wasn't. Thanks for the calification.
  • #7,867
  • Jul 12, 2011 9:42am Jul 12, 2011 9:42am
Quoting eelfranz
Anyone finding this thread won't retire there. But here...



AAAAAAHHH, so glad i found this thread

  • #7,868
  • Jul 12, 2011 9:47am Jul 12, 2011 9:47am
I placed a long trade on the EUR USD when the new 4HR candle posted as per the rules. The Green Line was pointing at 1:00 as per the rules for a good entry. And now I am 25 pips negative as happens to me almost every time I place a trade. I continually follow the rules as they are laid out, but my entries leave a bit to be desired. I am really frustrated with this aspect of it. Does anyone have any suggestions? And yes, I've read every page of this thread if anyone is wondering. Any insight is greatly appreciated before I have a come-apart.
  • #7,869
  • Jul 12, 2011 9:48am Jul 12, 2011 9:48am
Here's what I remember. I have adapted these rules to my trading experience and style.

Quote
I prefer to trade the 4hr charts at night. My broker posts new 4 hr candles at 10pm my time (Pacific), 2am my time and 6am my time.

[font=Comic Sans MS][size=3][color=#0000ff]My page when I open up my charts has 8 open charts. I just glance at the TDI for set ups when the new candle opens... If I see a set up... green just crossing red I'll take the trade, turn off the puter and go to bed. Four hours later (1:50am) my alarm goes off for the new candles...
  • #7,870
  • Jul 12, 2011 9:58am Jul 12, 2011 9:58am
Quoting dcginc
is like asking a Dentist what’s wrong with your ankle. They do not know how to respond.
absolutely true, I am a dentist and would not know how to answer that either. . .
Thank you very much for sharing your charts
Humble & Kalcker CLO2 = Covid killer
  • #7,871
  • Jul 12, 2011 10:04am Jul 12, 2011 10:04am
Hi eelfranz,

Thank you so much for your thread, I just came across it and read past posts and printed Big E's compilation and studied it.

In your recent training chart there appears to be TDI crosses at 8 July 19:00
and 11 July 12:00.
Why were these crosses not valid setups?

Thanking you in advance

LR
  • #7,872
  • Jul 12, 2011 10:08am Jul 12, 2011 10:08am
Quoting FTimeForex
I placed a long trade on the EUR USD when the new 4HR candle posted as per the rules. The Green Line was pointing at 1:00 as per the rules for a good entry. And now I am 25 pips negative as happens to me almost every time I place a trade. I continually follow the rules as they are laid out, but my entries leave a bit to be desired. I am really frustrated with this aspect of it. Does anyone have any suggestions? And yes, I've read every page of this thread if anyone is wondering. Any insight is greatly appreciated before I have a come-apart....
It be nice if you posted the chart with that trade you took.
Also show the time of your entry with a vertical line so others can give you some insight.
  • #7,873
  • Jul 12, 2011 10:09am Jul 12, 2011 10:09am
Quoting FTimeForex
I placed a long trade on the EUR USD when the new 4HR candle posted as per the rules. The Green Line was pointing at 1:00 as per the rules for a good entry. And now I am 25 pips negative as happens to me almost every time I place a trade. I continually follow the rules as they are laid out, but my entries leave a bit to be desired. I am really frustrated with this aspect of it. Does anyone have any suggestions? And yes, I've read every page of this thread if anyone is wondering. Any insight is greatly appreciated before I have a come-apart....
What is your stop loss? I see a normal retracement before start to going into your direction. If you have a good money management your stop loss would give enough room to breath to your trade.
Indicators always obey Price, not the other way.
  • #7,874
  • Jul 12, 2011 10:12am Jul 12, 2011 10:12am
Quoting FTimeForex
I placed a long trade on the EUR USD when the new 4HR candle posted as per the rules. The Green Line was pointing at 1:00 as per the rules for a good entry. And now I am 25 pips negative as happens to me almost every time I place a trade. I continually follow the rules as they are laid out, but my entries leave a bit to be desired. I am really frustrated with this aspect of it. Does anyone have any suggestions? And yes, I've read every page of this thread if anyone is wondering. Any insight is greatly appreciated before I have a come-apart.
You have to be patient with the trade and at least wait for the next four hour candle, come on if it was that easy I would be a 100% trader and that is impossible.
  • #7,875
  • Jul 12, 2011 10:13am Jul 12, 2011 10:13am
Quoting AlexC
It be nice if you posted the chart with that trade you took.
Also show the time of your entry with a vertical line so others can give you some insight.

I need to figure out how to post a chart. I usually don't post often so I have not looked into how to do it yet.
  • #7,876
  • Jul 12, 2011 10:15am Jul 12, 2011 10:15am
Quoting maxtrader
What is your stop loss? I see a normal retracement before start to going into your direction. If you have a good money management your stop loss would give enough room to breath to your trade.
My stop loss is set according to the rules at the last swing low for a long trade. It should have plenty of room to breath no doubt. My entries just seem to lack greatly. I want to improve this aspect of it.
  • #7,877
  • Jul 12, 2011 10:27am Jul 12, 2011 10:27am
My charts will not post either. A box comes up with "enter the location of your image file" and askes for a http:// type address. I copy the real address, C:..... but does not work!
  • #7,878
  • Jul 12, 2011 10:33am Jul 12, 2011 10:33am
What you guys think about e/u 1hour? Its going flat, i think it will cross in hour or so.
  • #7,879
  • Jul 12, 2011 10:35am Jul 12, 2011 10:35am
Hello,

30 pips up in gbp/usd, by now trying system on demo...
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  • #7,880
  • Jul 12, 2011 10:45am Jul 12, 2011 10:45am
Hi eelfranz,

Thanks for sharing this nice trading stratergy.

Could you tell me the pairs you trade using this system.

Many Thanks
ASW
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