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Trading Made Simple

  • #8,021
  • Jul 13, 2011 7:44am Jul 13, 2011 7:44am
Quoting dcginc
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.
Thanks a lot!

What are the majors you trade? I thought you did'nt trade the usd/jpy, right? You trade eur/usd, gbp/usd, eur/jpy, gbp/jpy, usd/cad, nzd/aud, usd/chf? what is pair 8? or do i miss something.
The ATR looks very nice, did some backtesting.
  • #8,022
  • Jul 13, 2011 7:46am Jul 13, 2011 7:46am
RogerVF
Quote
I guess I have to say I have really bad instincts as a trader

One of the hobbies I took up that helped me tremendously as a trader was playing poker- whether at a casino or with friends at a regular game - for real money.
For Poker to be profitable requires discipline, patience, analysis, risk and rules that increase your edge.
I still play very regularly and find this reinforces the same habits required for profitable trading.
  • #8,023
  • Jul 13, 2011 7:49am Jul 13, 2011 7:49am
Thierry
Quote
What are the majors you trade? I thought you did'nt trade the usd/jpy, right?
Correct.

I just have it on my charts to check the divergence and consolidation of the pair for clues about other pairs.
  • #8,024
  • Jul 13, 2011 8:12am Jul 13, 2011 8:12am
Try this link...it is in the Attachments Folder in the upper right corner of this threads page...
about half way down on the second page.
AlienFrog explains how to set it up on post #7641
Good trades...
Cliff




Quoting geoffgjones
Excuse my ignorance, but how do you set 100pip gridlines?
Attached File(s)
File Type: mq4 Round Numbers 5 digit (4).mq4   4 KB | 565 downloads
I get exercise just pushing my luck
  • #8,025
  • Jul 13, 2011 8:12am Jul 13, 2011 8:12am
Quoting geoffgjones
Excuse my ignorance, but how do you set 100pip gridlines?
You can find an indicator for that here:
http://www.forexfactory.com/showthre...05#post4765505
Luck occurs when preparation meets with opportunity.
  • #8,026
  • Jul 13, 2011 8:18am Jul 13, 2011 8:18am
Quoting eelfranz
OK Chillin' lets not throw water baloons or continue mud wrestling...

I presented this method in it's simplicity.... knowing many could benefit. It requires no more than I have outlined earlier and that is how I'll continue to trade it.

[font=Comic Sans MS][size=4][color=#0000ff]I know...
Something to remember
Indicators always obey Price, not the other way.
  • #8,027
  • Jul 13, 2011 8:20am Jul 13, 2011 8:20am
1h trade. Using the ATR.
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad 1h.jpg Size: 142 KB
  • #8,028
  • Jul 13, 2011 8:25am Jul 13, 2011 8:25am
I placed two trades yesterday and l woke up this morning to 200 pips in the account. I had set a TP just in case they were hit while in bed. I am still learning and watching how to let winners run. Although based on one being a counter trend trade I am hesitant to let it try and run any further than the previous resistance.

EU BUY: +100 pips-- Yes, this was a counter trade. I played the pullback from the large move down and had my TP prior to the resistance from earlier. Yes, riskier trade but I did not bet the bank and was looking to get some pips into profit and at worst BE.

GBPNZD SELL: +100 pips--played the bounce off of resistance. I usually don't trade this pair but I saw the set-up, traded pennies on the dollar and took it for a winner.

No complaints. Still testing/learning with some other trades going on right now. I will report back on those at another time.
  • #8,029
  • Jul 13, 2011 8:33am Jul 13, 2011 8:33am
Quoting dcginc
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.
Great tip dcginc,
Thank you
  • #8,030
  • Jul 13, 2011 8:34am Jul 13, 2011 8:34am
UC trade closed TDI flattened a bit...4hr
  • #8,031
  • Jul 13, 2011 8:52am Jul 13, 2011 8:52am
Hi
Bishop,

The TDI slope indicator on your charts with pips n atr. Can you share that please or direct me to the right location to download this indicator.

thanks

Quoting bishopdotun
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.
  • #8,032
  • Jul 13, 2011 8:54am Jul 13, 2011 8:54am
Cheers for the advice. Works a treat.

bought USD CAD. Fingers crossed!
  • #8,033
  • Jul 13, 2011 9:00am Jul 13, 2011 9:00am
Trading on the higher time frames, I tend to ignore the news and economic announcements. Being all flat, or out of the market currently, I will not place any trades until after this type of economic news has been absorbed by the market.
"Fed Chairman Ben Bernanke is in the hot seat before a Congressional panel Wednesday, as markets keep a watchful eye on headlines from Europe and debt ceiling talks in Washington.
Bernanke is likely to be asked about both topics by the House Financial Services Committee at the semiannual economic hearing. He should also face questions about the state of the economy at the 10 a.m. hearing, and whether he sees the current soft patch as temporary or something more worrisome." from CNBC

I will actually wait until the London open tonight for any new signals.
  • #8,034
  • Jul 13, 2011 9:09am Jul 13, 2011 9:09am
Quoting dcginc
Trading on the higher time frames, I tend to ignore the news and economic announcements. Being all flat, or out of the market currently, I will not place any trades until after this type of economic news has been absorbed by the market.
"Fed Chairman Ben Bernanke is in the hot seat before a Congressional panel Wednesday, as markets keep a watchful eye on headlines from Europe and debt ceiling talks in Washington.
[color=black][font=Verdana]Bernanke is likely to...
Which is why I closed my trade...Experience says its just a crap shoot when fed news is involved. Wise man!

Lionsden
  • #8,035
  • Jul 13, 2011 9:40am Jul 13, 2011 9:40am
TARGET HIT....... and then some still going
Attached Image (click to enlarge)
Click to Enlarge Name: nzd-usd-6.gif Size: 48 KB
OPPORTUNITY IS NOWHERE
  • #8,036
  • Jul 13, 2011 10:32am Jul 13, 2011 10:32am
I placed a few demo trades yesterday based on the 4H. AUDUSD, EURUSD and USDCAD are doing very well (screenshots below). I got stopped out for losses on EURGBP and EURJPY because I had my stoploss too tight - normally I have it below the nearest swing but for some reason I didn't do that yesterday for those two pairs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 23 KB
Click to Enlarge Name: eurusd.gif Size: 22 KB
Click to Enlarge Name: usdcad.gif Size: 22 KB
  • #8,037
  • Jul 13, 2011 10:38am Jul 13, 2011 10:38am
Quoting eelfranz
When you look at the Green TDI line crossing the Red TDI line... Think of the face of a clock....

For a Long trade : when green crosses red you want the green line to be pointing up at an angle between 12-2 on that clock face. (If it's pointing between 2-4 just pass on it and look for another.

[font=Comic Sans MS][size=4][color=#0000ff]For a short..... when green crosses red down you want it to be pointing at a 4-6 angle...
Thanks for all your efforts here! I've read all the posts a few times already but I don't remember anyone asking this question. When you use the clock as a reference for the green line's slope, my understanding is you are only talking about the green line and NOT it's relation to the RED line. As long as the green has crossed the red line & it's NOT touching it, and the slope of the green line itself is between 12-2 or 4-6, we take the trade. Thanks!
  • #8,038
  • Jul 13, 2011 10:48am Jul 13, 2011 10:48am
Quoting Thierry
Thanks a lot!

What are the majors you trade? I thought you did'nt trade the usd/jpy, right? You trade eur/usd, gbp/usd, eur/jpy, gbp/jpy, usd/cad, nzd/aud, usd/chf? what is pair 8? or do i miss something.
The ATR looks very nice, did some backtesting.
could you please direct me to the post that explains how to use ATR as stop loss.
Thank you.
  • #8,039
  • Jul 13, 2011 11:11am Jul 13, 2011 11:11am
Try page 487, post # 7298

You can also click on a poster's name to see all of their posts. I recommend reading all of dcginc's.
  • #8,040
  • Edited 11:13am Jul 13, 2011 11:12am | Edited 11:13am
Quoting 0Bid
could you please direct me to the post that explains how to use ATR as stop loss.
Thank you.
7318, 7449, 7811, 7831, dgcinc rocks
OPPORTUNITY IS NOWHERE
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