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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #8,001
  • Jul 13, 2011 3:04am Jul 13, 2011 3:04am
Quoting dean
I dont quite understand what you mean, could you explain a bit further please
Mark Zuckerberg: As for any charges stemming from the breach of security, I believe I deserve some recognition from this board.

Ad Board Chairwoman: I'm sorry?

Mark Zuckerberg: Yes?

Ad Board Chairwoman: I don't understand.

Mark Zuckerberg: Which part?
OPPORTUNITY IS NOWHERE
  • #8,002
  • Jul 13, 2011 3:11am Jul 13, 2011 3:11am
Hi Guys. I hope calm has returned now. We call this system Trading Made Simple. It's not Holy Grail or Set-it-leave-it, neither is it an almighty formular for making money. In this forum, even Big E has posted loss trades which we have all learnt from.

If anyone choose to call his system 123, let it be. Here we are all learning a simple way of trading and dealing with the market. SIMPLE.

These are my trades today. You could choose to call it ABC. I have already taking out 20pips on the eurgbp earlier.
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  • #8,003
  • Jul 13, 2011 3:11am Jul 13, 2011 3:11am
Quoting DaveUK
I agree. dgcinc's posts should be required reading for everyone on this thread.
so true, thanks DCGinc and all who share - traders helping traders
  • #8,004
  • Jul 13, 2011 3:19am Jul 13, 2011 3:19am
Hi,

I took this trade currently -10 pips. TDI angle is good and it is below 50 as well. Any suggestions?
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  • #8,005
  • Edited 3:41am Jul 13, 2011 3:39am | Edited 3:41am
Quoting netwatchpips
Hi,

I took this trade currently -10 pips. TDI angle is good and it is below 50 as well. Any suggestions?
Follow your "TRADING PLAN"
OPPORTUNITY IS NOWHERE
  • #8,006
  • Jul 13, 2011 3:40am Jul 13, 2011 3:40am
I have entered a trade only if slope value of the green line was over 6, and of course all other parameters where OK.

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  • #8,007
  • Jul 13, 2011 4:00am Jul 13, 2011 4:00am
Quote
Post hidden because puppypippy is on your ignore list.
I suggest everyone does the same.

-Pete
  • #8,008
  • Jul 13, 2011 4:05am Jul 13, 2011 4:05am
Hi all,

Wow what a massive thread, I think I've got to page 112 upto now, you guys are posting almost as fast as I can read .

It looks very good if you can stick to the rules, that said I'm in the process of setting up a demo account and was thinking of using FXDD (malta) as I'm UK based, does anybody know if they use the same data feeds for charts as FXDD, Just trying to stay on the same wave length as the regular posters really!

If anybody from the UK already using this system wants to give any tips/advice which broker/s may be of use for a live acc I'd be very interested to hear them.

eelfranz, what can I say?

No more than as already been said on the pages read to date, thankyou for sharing this with everybody and policing this thread too, I'm hopeful of good things if i can sort out an MT4 broker, , I've certainly picked up lots of new terminology whilst reading, brain frazzling for a start but hopefully getting the hang of things now a return trip to babypips is beckoning soon!

Thanks in advance for any help/advice people may provide!

Happy pipping
Del boy
  • #8,009
  • Jul 13, 2011 4:09am Jul 13, 2011 4:09am
Wow! Looks like there was some heated discussion and Mr. Pippypuppy has ruffled some feathers.

That fact is – much of what he is saying is true. I do not agree that is attitude is effective in getting others to accept his message, but indeed he has some salient points.

Some general observations about his statements congruent with my previous posts:

Most people are not successful in trading because they do not do the required research, back testing and study required to make consistent analysis, consistent decisions and consistent profits.

The TMS/TDI system, like all systems, relies on an understanding of market structure and harmonics. Higher highs, higher lows, lower highs, lower lows, and breaks and closes above and below previous structure. A 123 pattern is a basic pattern that is fundamental in evaluating trend reversal and continuation. If new structure takes out previous structure, then the new structure becomes the benchmark. If the previous structure holds, then price is exhibiting weakness and will continue in the current direction of momentum. Understanding this premise can be an asset in filtering valid trade signals as part of your rules. The 123 pattern is a component in this system, especially in what we are calling the “bounce” or retrace. There are many patterns as valid and as prominent as the 123 – it is certainly not the end all or be all as he stated.

My other professional trading friends warned me about chat rooms, forums, posts, etc. This is where I agree with Pippup emphatically. After having joined this post, I can easily see the need for some clarity and reality – which I am attempting to provide. I am in no position to judge anyone on here as an individual as I have not walked in your shoes – nor would I think myself qualified to do so. But, I can certainly judge your performance as a trader. Rather than judge, I prefer to nudge.

I cannot speak to the duration of thread, posts or systems, or their success. In what I’ve read in his posts here, it would seem Mr. Pippup takes great pleasure in reading, criticizing and/or evaluating the merit of them. To spend twelve years doing this vs. spending one’s time more productively is a great opportunity cost. I am sure we could all do this as well. However, that is a time commitment that cannot be afforded if one is serious about making a living trading.

As for the person scalping a making $5,000 USD per day or week or whatever, my mentor placed third in a global challenge recently taking a $250,000 USD account to over $950,000 USD in 90 days. My other mentor earns between $5 mil- $7mil per week and is a retail trader just like us. But this is irrelevant. What only matters is what I’m doing, how I am trading and my account balance.

The cold hard truth is, I don’t care for the way he expresses himself, but there is some validity is his comments. It sounds to me like he has experienced much of what we all do – confusion, anxiety, frustration, betrayal, etc. So, I can understand his anger – he just hasn’t gotten over it.

Mr. Pippup, please take your anger, your attacks and your attitude and purge yourself. Then, come back with some enlightening advice or something constructive with a more civil tone. No one ever erected a monument to a critic.
  • #8,010
  • Jul 13, 2011 4:28am Jul 13, 2011 4:28am
I for one am interested in learning more about the ebb and flow of markets and their underlying structure. I'm not saying I want to ditch TMS for this other 123 strategy, but if someone (puppypippy?) could point me in the right direction of some valuable information I'm all ears.
  • #8,011
  • Jul 13, 2011 5:03am Jul 13, 2011 5:03am
Because of market volatility, I have been focusing on the Euro more than other pairs these past few weeks. Here is a trade that closed this morning on the 15 M chart. This is the only trade I took this morning. Bernanke is testifying this morning. Usually his comments move the market - depending on how many drinks he’s had. I try to stay out of the New York market on such days and trade the smaller time frames.

I actually missed the cross and entered on the 2nd candle at 1.4019 at the London open – see vertical line.

ATR = 19
Stop Loss = 38 pips
Target 1 = 38 Pips – attained.
Target 2 = 76 pips – attained.

Notice the cross occurred above the 50. Above the 50 = bullish bias. Good angle and bullish continuation on 1 Hr as well.

In this particular case, there was no drawdown to speak of and market momentum stayed strong upward. It happens occasionally. Again, I try to focus on quality, not quantity. This week so far, and it’s only Wednesday , has been a good week for many of us. I want to emphasize - no stress, no anxiety, followed my rules.
Attached Image (click to enlarge)
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  • #8,012
  • Jul 13, 2011 5:19am Jul 13, 2011 5:19am
Trades I entered yesterday on 4hr charts (E/U, G/U, A/U, U/C) ended up profitable, but I bailed out too soon because of TDI exhaustion (went flat), so I ended up with heavy loss (don´t worry so much, I´m on a Demo for testdriving the method).

I have read about people using 2x ATR for stop losses, and this seems preety reasonable, but it´s kinda hard for me to formulate consistent target criteria.

Could somebody please comment? I´m trying to keep the method as simple as possible (stress-free), so I´m not doing lots of multiframe analisys. I´m using the 100pips gridlines as E recommended.

I guess I have to say I have really bad instincts as a trader.
  • #8,013
  • Jul 13, 2011 5:21am Jul 13, 2011 5:21am
dcginc,

Great posts of you. How can i put the atr into the tdi indicator?
  • #8,014
  • Jul 13, 2011 5:22am Jul 13, 2011 5:22am
As always good post and good trade Dcginc!
Keep them coming!

Candela
  • #8,015
  • Jul 13, 2011 5:23am Jul 13, 2011 5:23am
Quote
I for one am interested in learning more about the ebb and flow of markets and their underlying structure. I'm not saying I want to ditch TMS for this other 123 strategy, but if someone (puppypippy?) could point me in the right direction of some valuable information I'm all ears.

123 on Euro is currently setting up. To confirm this, we would need to wait for a break below and close below 2. The 1 was cut off on my picture - it is the swing high above and to the left of the 2.

To incorporate into TMS, we would want to confirm that the RSI is below 50. Below 50 = bearish bias.

For purposes of illustration only, I have noted this on my 15 M Euro chart.
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  • #8,016
  • Jul 13, 2011 5:29am Jul 13, 2011 5:29am
Thanks Dcginc, helpful as always.

This does look like a good example. I found this website which also explains the 123 strategy in a clear manner if anyone else is interested.

http://www.aboutcurrency.com/strateg...strategy.shtml

Quoting dcginc
123 on Euro is currently setting up. To confirm this, we would need to wait for a break below and close below 2. The 1 was cut off on my picture - it is the swing high above and to the left of the 2.

To incorporate into TMS, we would want to confirm that the RSI is below 50. Below 50 = bearish bias.

For purposes of illustration only, I have noted this on my 15 M Euro chart.
  • #8,017
  • Jul 13, 2011 5:31am Jul 13, 2011 5:31am
Excuse my ignorance, but how do you set 100pip gridlines?
  • #8,018
  • Jul 13, 2011 5:32am Jul 13, 2011 5:32am
Quote
Great posts of you. How can i put the atr into the tdi indicator?

Go to the standard indicators list and find Average True Range.

Drag it over the TDI window.

Set the color to "none" and the period to 7. It will appear to the right of the TDI data in the indicator window and display the ATR for the 7 candles previous to the current candle.
  • #8,019
  • Jul 13, 2011 5:34am Jul 13, 2011 5:34am
Quoting dcginc
123 on Euro is currently setting up. To confirm this, we would need to wait for a break below and close below 2. The 1 was cut off on my picture - it is the swing high above and to the left of the 2.
Nice clear example. Additionally, point 2 is very close to 1.4050, which co-incides with yesterday's high. More weight to the probability that if price breaches point 2, it will continue downwards.
  • #8,020
  • Jul 13, 2011 5:35am Jul 13, 2011 5:35am
Bennygill
Quote
This does look like a good example.

yes.
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