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Trading Made Simple

  • #8,121
  • Jul 14, 2011 6:50am Jul 14, 2011 6:50am
No method works all the time and some people cannot work any method anytime.
Abide by the basic rules and it will work.

Anonymous.
It Is Well With My Soul..(Amen)
  • #8,122
  • Jul 14, 2011 7:01am Jul 14, 2011 7:01am
it seems clear that whatever the thread or the system a lot of the supposed problems are due to everybody's charts being different either because of broker and/or timezone. Therefore we will get different signals at different times and not much we can do about it.
  • #8,123
  • Jul 14, 2011 7:15am Jul 14, 2011 7:15am
Quoting eelfranz
As you can tell from Puppypippy's comments he doesn't understand how our method works. He has not read the thread nor does he understand 12-2 or 4-6. I have advised him that he will be banned and to please move on. You can select to ignore his posts. A lot of hate coming from him.

Think about this... If you had a system that was so hot... why would you take time to tear down others...
Thank you Big E! I knew that the next time you logged on to the thread he would be gone. I wanted to post that prediction but it was pointless.

BTW I tried some testing last year with the 1-2-3 method last year. It's like anything else in 4x. If you just trade it mechanically you run about 50-50, which means the market has the edge and you will lose. It's a good tool in the right context, and some traders use it successfully. There was a thread for it on FF for anyone interested. But as everyone here knows, this thread is about TMS, not 1-2-3!

Mega pips to all!
Luck occurs when preparation meets with opportunity.
  • #8,124
  • Jul 14, 2011 7:22am Jul 14, 2011 7:22am
Thank you too, dcginc, really great teaching coming from your vast knowledge and experience

Your charts have overlay boxes, would you please explain what you use them for.

Cheers,

LR
  • #8,125
  • Edited 9:43am Jul 14, 2011 7:25am | Edited 9:43am
They simply delineate each trading day. This is so I can count back quickly to reference days of the week when discussing set ups and trades.

There many of these types of indicators on the web.
  • #8,126
  • Jul 14, 2011 7:29am Jul 14, 2011 7:29am
Another question please ( I'm sure many more will follow)


Why did you choose 7 for the ADR, not 5 ( for trading days), or any other number?

Thanking you in advance

LR
  • #8,127
  • Jul 14, 2011 7:33am Jul 14, 2011 7:33am
Quoting msn
Alien frog what am I doing wrong. I cannot find a trade. I am staying up all night so I can check H1 and H4 and so far no TDI suitable to take with other criteria met. any advice. could my indicator be faulty? I do find lots of trades where the TDI is at an angle just not enough of an angle or the PA is too choppy or consolidation etc.
Hi, msn. First, that post with the backtest results, and another post I made before that one with backtest results, were proven to be wrong. The results were wrong. In a later post I stated this. I think it was only one or two pages later but you will have to look for it. The indicator I used in testing did not work properly so it gave a signal at the open of the candle that was based on the state of the TDI indicator at the close of the candle. Basically, you should ignore those backtest results.

Second, on finding signals: they are there. You don't need to stay up all night. You just need to check every 4 hours. I just read Big E's post again yesterday about how he checks the H4 candles at 10pm (his time), places his trades, sets his alarm for 4am, checks again, gets up at 6am and closes all his positions, then trades the London and NY sessions for a couple of hours. (I think I have the exact times wrong, but you get the idea.)

That does not work for me - I tried it for a couple of weeks. BUT... it might work for you! The point is this: find what works for you. If you don't think the signals are appearing, check this thread. People are posting the signals they find. If your H4 bars aren't the same because of a different time zone, get a demo account in the right time zone.

There are solutions to your issues. It's a lot of information and new things to learn. But if you want to trade 4x you have to put in the hours and effort to find the answers to all these things.

Lastly, if you are doing all this and you still can't see signals, post your charts here every 4 hours. There are dozens, if not hundreds, of traders who will check them and help you find see good signals. Read the thread - others post signals regularly, just copy them! That's a start, at least.

I will try to answer the questions for you but my time to read this thread comes in waves, and I can be out for several days or a week at a time. So other traders please feel free to answer questions addressed to me if you can. Also I'm not a pro trader, I'm learning like you. But I'm trying to put in the hours and effort to train myself because I don't feel like writing dgcinc a check for what's in my account! (Anyone who doesn't get this hasn't read the thread, which is part of your due diligence!)

Sorry for the long post, it just happens!

Hope this helps!
Luck occurs when preparation meets with opportunity.
  • #8,128
  • Jul 14, 2011 7:41am Jul 14, 2011 7:41am
Quote
Why did you choose 7 for the ADR, not 5 ( for trading days), or any other number?

In backtesting my trading plan, I looked at the average range of price movements during the signal and set ups that I trade. The ATR set at 7 had the highest probability of hitting targets based on the observed ranges when considering my comfort level of risk and account balance.
  • #8,129
  • Jul 14, 2011 8:00am Jul 14, 2011 8:00am
Anyone liking the au/ca short this H4?
  • #8,130
  • Jul 14, 2011 8:02am Jul 14, 2011 8:02am
Spot on...
Especially the reference to writing dcginc a check...we could add SnarlyJack and Big E to our Forex donations as well, I think...
Thanks for the reminder to look back at Big E's criteria...
Cliff



Quoting AlienFrog
Hi, msn. First, that post with the backtest results, and another post I made before that one with backtest results, were proven to be wrong. The results were wrong. In a later post I stated this. I think it was only one or two pages later but you will have to look for it. The indicator I used in testing did not work properly so it gave a signal at the open of the candle that was based on the state of the TDI indicator at the close of the candle. Basically, you should ignore those backtest results.

Second, on finding signals: they are there. You...
I get exercise just pushing my luck
  • #8,131
  • Jul 14, 2011 8:07am Jul 14, 2011 8:07am
Leonaforex, not a steep crossover, and TF 1,5,15 are already turning up. I will not take it, but I am a beginner!
  • #8,132
  • Edited 8:57am Jul 14, 2011 8:10am | Edited 8:57am
The 1 Hr AUD/USD has not completed the bearish rotation and did not provide a valid signal for a short trade, and although moving sideways, it is still bullish. Likewise, no bearish confirmation on the 4 Hr and still bullish bias.

I will wait out this pair until the previous resistance is broken to take out the triple top on the 4 Hr for a long signal or wait for the bearish rotation and go short. Either way, waiting for my rules to be met before placing any capital at risk.

No signals, No trades, No risk, No worries.
  • #8,133
  • Jul 14, 2011 8:35am Jul 14, 2011 8:35am
Guys:

Short USD/CAD 1hr for a 15pip scalp (bounce trade rejecting psycological resistance). Target reached.
Long GBP/USD 1hr for 10 pip scalp. Antecipated and risky entry cause TDI>50, but in trend direction. Target reached.
Long EUR/USD 1hr for 15 pip scalp. Same as above. Both pairs seem to be rejecting a psicological level (4200 and 6100). Trade still open.

These are some conclusions I could take so far:

- Respect timeframe considerations. Enter 4hr frame signals, 1hr TF signals only for the first 3 hours of NY opening. Iīve managed some successful trades on smaller timeframes, but with really small targets (5-10pips).

- Respect TDI position. Enter trade only if crossing occurs on opposing quadrant (<50 - long, >50 - short). Bounce trades are OK of in the same quadrant as trade direction. TDI position affects target range too. Good crossing angle is essencial, and would be nice to have criteria to measure it.

- Use large targets only in 4hr frame. Hourly frame works best with small targets (10-20pips).

Stop criteria is still open for me. 2x ATR gets me too huge stop losses. For now, target criteria is 5-10pips for 15min, 10-20pips for 1hr and 20-50pips for 4hr, fine tuned by the chart.
  • #8,134
  • Jul 14, 2011 8:42am Jul 14, 2011 8:42am
Nice post, particularly helpful on stops. I am using 35 pip stop at max. I know I am losing pips, but it is safer. Hope to have enough cash one day to go 2*ATR.

Cheers

Geoff
  • #8,135
  • Jul 14, 2011 8:58am Jul 14, 2011 8:58am
Quoting eelfranz
As you can tell from Puppypippy's comments he doesn't understand how our method works. He has not read the thread nor does he understand 12-2 or 4-6. I have advised him that he will be banned and to please move on. You can select to ignore his posts. A lot of hate coming from him.

Think about this... If you had a system that was so hot... why would you take time to tear down others...

Exactly my view

BTW it's always pleasure to listen to you Eelfranz

Keep them coming

Thanks for all the support and help
  • #8,136
  • Jul 14, 2011 9:21am Jul 14, 2011 9:21am
Hey Geoff, right, thatīs pretty much the same for me here, concerning the stoploss criteria. Now I`m trying to enter trades only near psycological levels and use them as stoploss "blocades" +-5 pips.

As an amateur programmer, Iīve tested different strategies before with multiples of ATR as stop level identifier. Iīm new to forex (been around for 6mnth or so), but have a couple of years in futures market. 2x ATR seemed too big for most of them.

Closed the EUR/USD trade +6pips before Bernankeīs speech, plus a USD/CHF bounce in break even (+2pips). So this makes a 3x0 (33pips) this morning, wich is great for me. Iīm more concerned in having a safe high probability system than going for the huge targets.

Quoting geoffgjones
Nice post, particularly helpful on stops. I am using 35 pip stop at max. I know I am losing pips, but it is safer. Hope to have enough cash one day to go 2*ATR.

Cheers

Geoff
  • #8,137
  • Edited 9:32am Jul 14, 2011 9:30am | Edited 9:32am
Quoting aren
enjoy it.
Aren, why post the ex4 file format of your indicators? Surely we have all grown past that? (See #Post 8090)
Hercs
  • #8,138
  • Jul 14, 2011 9:37am Jul 14, 2011 9:37am
Quote
Hey Geoff, right, thatīs pretty much the same for me here, concerning the stoploss criteria. . .but have a couple of years in futures market. 2x ATR seemed too big for most of them.

Quote
Nice post, particularly helpful on stops. I am using 35 pip stop at max. I know I am losing pips, but it is safer. Hope to have enough cash one day to go 2*ATR.

It is encouraging to see that you are testing and adopting ideas, or not adopting ideas to meet your own trading style. Ultimately you must do what works for you!
  • #8,139
  • Jul 14, 2011 9:45am Jul 14, 2011 9:45am
Quoting dcginc
In backtesting my trading plan, I looked at the average range of price movements during the signal and set ups that I trade. The ATR set at 7 had the highest probability of hitting targets based on the observed ranges when considering my comfort level of risk and account balance.
I have read your posts about 2xATR for SL/TP and I intend to backtest this, too. I have done a lot of backtesting, most recently on daily on a couple of pairs for the first half of this year. I found that TDI gives good signals and identifies the start of trends. But strictly entering on candle opens has not given me good results. I tried different combinations of 100 or 200 pip SL/TP, and still not good. 2 x ATR is more dynamic and possibly more relevant to PA at the moment. I can't wait to test it this weekend.

Thank you for continuing to share your wisdom with us!
Luck occurs when preparation meets with opportunity.
  • #8,140
  • Jul 14, 2011 9:48am Jul 14, 2011 9:48am
Hi dcginc,

Looks like your Aussie is following your initial analysis

I'll be looking at this for my first TMS/ TDI trade

LR
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