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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

  • #8,141
  • Jul 14, 2011 9:50am Jul 14, 2011 9:50am
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...
Spot on, Eelfranz, thank you. Great to see you on the thread.
  • #8,142
  • Jul 14, 2011 9:50am Jul 14, 2011 9:50am
beginner or not, sound advice

Quoting geoffgjones
Leonaforex, not a steep crossover, and TF 1,5,15 are already turning up. I will not take it, but I am a beginner!
  • #8,143
  • Jul 14, 2011 9:54am Jul 14, 2011 9:54am
Quoting AlienFrog
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!

Hope this helps!
Well said, the whole post, this is what really stood out to me in what dgcinc said as well -- it helps to drive me to perfection in 4x as well.
Hope this helps others as much as it has helped drive me onward!
Leona
  • #8,144
  • Jul 14, 2011 9:58am Jul 14, 2011 9:58am
It's good to see everyone making pips and learning lot's. I have gone live this week so have been concentrating on trading more than anything else. I can honestly say the people who said it's best to trade live have been spot on the money. It's very very different but at the same time i am glad i spent the time understanding how to trade correctly on a demo account as now i have the confidence to use a real account. I am up about 450 ish since going live on Monday but the stress and anguish are something you need to be prepared for.
And just remember to STICK TO YOUR RULES!!!! which is easy on demo and harder on a real account, lot's of people are adding lot's of indicators to there trading which is fine and everyone trades differently but from my own experiences all i can say is you might think you need them but in reality you need nothing more than the indicators posted at the beginning of this thread to be successful. All the indicators in the world won't help if you do not do the work and i mean work hard.
This is a business like studying to become an accountant or a doctor etc... If they don't work hard at it they fail same as us with our trading career's.
I truly believe there are lot's of people trading successfully using lot's of systems this being just one of them and no matter what system they are trading successfully the thing they all have in common is they have done the work necessary to succeed at trading.
Good trading all.
  • #8,145
  • Jul 14, 2011 10:05am Jul 14, 2011 10:05am
Quoting Vantage
Your brokers candle must look a whole lot different to this. I wouldn't touch this, but then what do I know.
That trade actually looked good earlier. Why would you recommend not to trade?
  • #8,146
  • Jul 14, 2011 10:15am Jul 14, 2011 10:15am
Post deleted - somehow double posted.
  • #8,147
  • Jul 14, 2011 10:17am Jul 14, 2011 10:17am
Hello, what do you think about taking usd/chf long on H4?

Thanks in advance.
Xavi.
Attached Image (click to enlarge)
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  • #8,148
  • Jul 14, 2011 10:17am Jul 14, 2011 10:17am
Quoting bez3000
It's good to see everyone making pips and learning lot's. I have gone live this week so have been concentrating on trading more than anything else. I can honestly say the people who said it's best to trade live have been spot on the money. It's very very different but at the same time i am glad i spent the time understanding how to trade correctly on a demo account as now i have the confidence to use a real account. I am up about 450 ish since going live on Monday but the stress and anguish are something you need to be prepared for.
And just remember...
Well done, Bez. I guess all those demo trades you took were brilliant for learning to use the system - like they say, practise, practise, practise...and practise some more till it's second nature.

All the very best with your live trades. It's great that you're 450 up this week.
  • #8,149
  • Jul 14, 2011 10:20am Jul 14, 2011 10:20am
What does the AUD/USD look like now? dcginc pointed out it might be rolling over for a short.
I figured my entry would be 1.0706
Does this sound right?

Thanking anyone in advance

lr
  • #8,150
  • Jul 14, 2011 10:27am Jul 14, 2011 10:27am
Quote
What does the AUD/USD look like now? dcginc pointed out it might be rolling over for a short.
I figured my entry would be 1.0706
Does this sound right?

If you are waiting for a break below and close below previous support, this would sound right.

It all depends on your trading plan. What does TMS signal tell you? What do your rules for entry tell you?

Frankly, I do not take trades this time of day, so I would not be entering a trade on any signals right now. I pretty much trade the same hours as Big E.
  • #8,151
  • Jul 14, 2011 10:27am Jul 14, 2011 10:27am
Quoting torbarxa
Hello, what do you think about taking usd/chf long on H4?

Thanks in advance.
Xavi.
Bearing in mind I'm still on a steep learning curve, Xavi, I see that it's very close (about 5 pips away) from the 8200 round number which could be potential resistance, and is the third candle of the reversal.
  • #8,152
  • Jul 14, 2011 10:34am Jul 14, 2011 10:34am
So, may I ask what are your trading hours, or the best trading hours for a USA located person?
My trading plan is simply to trade eelfran's method ( your method?)

I read eelfranc's trading hours, and just can't do that part though.

LR
  • #8,153
  • Jul 14, 2011 10:37am Jul 14, 2011 10:37am
Quoting pipiness
Bearing in mind I'm still on a steep learning curve, Xavi, I see that it's very close (about 5 pips away) from the 8200 round number which could be potential resistance, and is the third candle of the reversal.


Thanks!, maybe I should pass and wait for other setup....
  • #8,154
  • Jul 14, 2011 10:41am Jul 14, 2011 10:41am
Quoting dcginc
If you are waiting for a break below and close below previous support, this would sound right.

It all depends on your trading plan. What does TMS signal tell you? What do your rules for entry tell you?

Frankly, I do not take trades this time of day, so I would not be entering a trade on any signals right now. I pretty much trade the same hours as Big E.
First of all I would like to thank dcginc for his posts which show the need for complex knowledge and thinking and the inportance of basic forex knowledge (e.g. patterns).
I think many of us is tempted to have too many indicators on a chart and try to enhance TMS but this is what we do not have to do! I think we have to check our charts and check each and every indicator and ask ourself, do I really need that particular indicator? Does it provide me any valuable piece of infromation? What part does it play in my decisionmaking process of trading? And finally we find ourself on the first page of this thread...Perhaps without Stoch...
  • #8,155
  • Jul 14, 2011 10:59am Jul 14, 2011 10:59am
Quoting eelfranz
he will be banned
THANKYOU THANKYOU THANKYOU THANKYOU
Short Euro and remaining that way. That's just the way it is !
  • #8,156
  • Jul 14, 2011 11:04am Jul 14, 2011 11:04am
Could TDI indicator of MT4 work on MT5? I tried but failed to load the TDI indicator (from this forum) onto MT5 (on my desktop computer).

My intention is to trade this setup on Ipad, but it only has MT5 (not MT4)app.

Anyone has suggestion of trading this setup on Ipad (such as using other platform but still using the TDI)?

Thank you in advance,
  • #8,157
  • Jul 14, 2011 12:18pm Jul 14, 2011 12:18pm
Quoting st-watcher
Could TDI indicator of MT4 work on MT5? I tried but failed to load the TDI indicator (from this forum) onto MT5 (on my desktop computer).

My intention is to trade this setup on Ipad, but it only has MT5 (not MT4)app.

Anyone has suggestion of trading this setup on Ipad (such as using other platform but still using the TDI)?

Thank you in advance,
On MT5 set RSI 13 period close and SMA 7 period close.
  • #8,158
  • Jul 14, 2011 12:46pm Jul 14, 2011 12:46pm
Hi, not sure if this will work on MT5 (it works fine for MT4)
1. open an RSI window (period13), change the color of the line to same as your background, so the line is gone.
2. set level lines etc. as you want. (68, 50, 32).
3. drag a moving average onto the RSI window from the nav. bar on the left side, (open nav. bar first), change its color to green and set period to 2, 'simple' and 'apply to previous indicators data'.
4. drag a moving average onto the RSI window again from the nav. bar on the left side, change its color to red and set period to 7, 'simple' and 'apply to previous indicators data'.
thats it!!
Hope this works
  • #8,159
  • Jul 14, 2011 1:21pm Jul 14, 2011 1:21pm
Just shorted eurcad looks good to me.
  • #8,160
  • Jul 14, 2011 1:35pm Jul 14, 2011 1:35pm
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...

Hi dginc,

Firstly, thank you for you advice on this forum. I have read through the compilation of your posts, and find it very useful. Just wanted to check though - when you say 'take off one lot' when profit target 1 is reached, do you mean close that trade and walk with the profits?

Cheers
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Judie