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Trading Made Simple

  • #9,021
  • Jul 29, 2011 2:58pm Jul 29, 2011 2:58pm
Quoting Fitness09
I feel like slamming this iPad through the window. Entered a short trade and set my tp at 20 on a 1 hour chart. It was moving down pretty aggressively, so I moved my tp to 40. It was a trade on the 1 hr but I was monitoring it on the 5 and 15 minute charts. My wife needed the computer for a minute. Well, it reversed when I was up 27 pips, and I thought surely it will come back down and I will close at +20. I closed at -32 pips and I feel like slamming my nuts in the door right now.
Fitness you say you had a TP at 20 and moved to 40 and thought to close at +20 on a stop so does this mean you didn't have a programmed stop? After many trades I have always found it best to have the programmed stop as we almost never get out when we intend to unless you are a robot. You followed the rules but left one rule to judgement... the stop trigger. I made this mistake over and over literally a hundred times and finally said to myself - just program the stupid thing + the spread of course. So that is what I do now, I also sell half at 10-15pips and move the rest to 2.5 pips above b/e and play with the free trade. It's done wonders for my sanity.

hope this helps
  • #9,022
  • Jul 29, 2011 3:01pm Jul 29, 2011 3:01pm
Quoting msn
Hi, where can this TMS TDI Watchdog be acquired? Thanks.

Goto the top of this thread - click the attachments button, choose hide images and it's about 2/3 down on page 1.
  • #9,023
  • Jul 29, 2011 3:14pm Jul 29, 2011 3:14pm
Quoting piprac
I read this on another forum as I was searching for an answer as to why a downloaded indie was not showing up: "you could right click on the mt4 icon and select open file location. then look for the indicators folder and simply copy and paste it into that folder. Then close that window. If mt4 is running close it and restart. that should do it. that's how I add all my files to mt4 whether it's indicators, experts, dll's or whatever."

I did exactly the above and no problems. My computer guru, who knows nothing re. forex indicators, told...
your computer guru is on the right track as per windows 7 being more security intensive . i will make a long explanation very short and just give the instructions...to the person who cant find the indicators (ozfxtrader82).... they are there, assuming that they were downloaded properly, just go to start menu---computer---c:drive---program files(x86)---(your broker)mt4---experts-----indicators: once in indicators there is a tab in the upper portion of the window called "compatibility files"..click this tab...you will see your downloaded files. to get them to work you need to get them to the original indicators file with your other functional indicators. simplest way to do this is to click and drag the downloaded file to your desktop. then go back to the regular indicators file by clicking the back button in the upper corner of the compatibility files window. Now once in the regular indicators folder, click and drag your indicators from the desktop into this file. restart MT4 and they will now be in your navigator and operational.
the reason for the download into compatibility files is that you must be running windows as an administrator or owner with proper security clearance to download and install files......this is explained well on windows 7 help website...hope this makes sense and helps.
  • #9,024
  • Jul 29, 2011 3:36pm Jul 29, 2011 3:36pm
Quoting aggravator87
I might have expressed myself rather harshly when writing TMS has a fundamental flaw. It means that the whole concept is wrong which is incorrect. All that I meant was that it needs the modifications I've proposed to give better results. You're right that a conclusion comes with statistical results. I've never thought of comparing both methods on a statistical level and I think backtesting can be created with a programmed EA which to my humble knowledge and experience in programming is unachievable task. If you let me instead writing here the moment...
What are the settings for your two MA's?
  • #9,025
  • Jul 29, 2011 3:41pm Jul 29, 2011 3:41pm
  •  GT_Pips
  • | Joined Jun 2011 | Status: Dont hate what you dont understand. | 71 Posts
Quoting Erebus
In a word, no

You don't really want it, as DaveUk kindly pointed out, it is part of a proprietary system that stinks of BS, not to mention, you can not buy beer with demo dollars, according to GT_Pips

I'm sure either of them would be willing to share their highly successful systems and indicators with you
Sure I will tell what i use to trade with.
For forex I currently use the "Big E system" on 4H and I use "Easy Forex Color Coded Trend Trading Manual System" for 1H and 30M time frames.
For stocks I use the BrainTrading System on the Tradestation platform coupled with a market sentiment meter and a trend strength meter both which i coded myself in Easy Language.
He who wanders, never gets lost. No good deed goes unpunished.
  • #9,026
  • Jul 29, 2011 3:52pm Jul 29, 2011 3:52pm
Quoting adeforex
For those who want to trade like a pro ,using this system,i have a good news for you. Please i may not answer some questions, because of my limited time during the day on the system but i will make it as simple as possible as it is what many traders are familiar with. STUDY THE OLD CHARTS ,YOU WILL SEE THEM EVERYWHERE.
Now i introduce little flavor for my trading using 15 minutes entries. with this ,you win big and your stop loss will be very minima.
[color=navy]Example is EU of last friday as seen below....
Does anyone understand this clearly? If you do, could you explain it to me. I do not understand this. Thanks
  • #9,027
  • Jul 29, 2011 4:06pm Jul 29, 2011 4:06pm
Hi all,

I've been demo-ing this system for about a month or two by now, after a total of about 6 months of trying various techniques. I'm reading through this thread and finding it very useful. So I thought it was time I wrote a post to say hello but also to highlight some of the beginner's mistakes that I make and I'm sure everyone else does. These are the things that I've found I need to work on.

My setup is as follows :

  1. I live in NZ, which means our evenings are the Euro mornings - so trade the Eur / Lon morning session (normally 7am - 1pm Lon time)
  2. As I can only trade those 6 hours a day I focus on the 1H timefame as I don't believe the 4H timeframe would give me enough signals trading 6 hours a day

  1. I'm making use of arbinka's indicator system (http://www.forexfactory.com/showthread.php?t=303347) which I then manually verify before entering a trade and / or manual analysis


Note to self 1 - if I've made my target profit for the day, I will stop!
Firstly, there is no doubt that this system can be profitable. I've had days where I've made 7 or 8% profit - awesome! But what happens next - I often then go and make more trades which then usually wipe out some or all of that profit.

Note to self 2 - going against the trend is like driving down a one way street the wrong way
I know Big E and others are quite profitable at doing counter trend trades, but I have no doubt this comes with experience. Most of my losing trades are ones where I've thought I've found the beginnings of a trend reversal - I'm usually wrong, and will be sticking with the trend from now on.

Note to self 3 - itchy trigger finger
There's no doubt that if it's a slow day and there aren't any strong signals coming through, I'll start to trade the weaker signals (telling myself that they're strong signals). Again, big mistake! If the rules aren't met to enter a trade NO ENTRY!

Note to self 4 - trailing stops are my friend
I know a lot of people don't like them, but for me the main question what is my goal here - it's to make money. If a trailing stop means I only make $5, that's still better than losing $5. I'm using the ATR (7) x 2 method to set my TP/SL and I've found that although it is ideal formula for letting trades breath, often times the trade falls just short of the TP before turning. So I make use of an ea that sets a wide ts in the beginning, but tightens the stop as it gets closer to the target. I've been running trades in parallel on another machine without ts, and the difference is huge.

Note to self 5 - Take screenshots!
Taking screenshots at your trade entry point is an awesome tool for analysing why you shouldn't have entered the trade if it goes wrong. I wish there was a tool that did it all automatically (is there?), but the learnings I've gained from it are most useful.

These are just my thoughts - what I need to work on to make it work for me. I think one thing I need to stress is that, no matter how much you read this thread, the only real way to learn is by testing yourself and trying things yourself so that you figure out your trading psychology and in particular your weaknesses that need to be managed in order to make the difference between a breakeven account and a profitable one.

And of course a big thank you to Big E for sharing his system and the number of other helpful useful posters on here.

1 pip at a time ... if the entries are strong, the rest will follow ...
  • #9,028
  • Jul 29, 2011 4:27pm Jul 29, 2011 4:27pm
Thanks a lot Antantnz!

Another rules added to my trading plan
  • #9,029
  • Jul 29, 2011 4:39pm Jul 29, 2011 4:39pm
Quoting pippete
I had a great day, 5 trades throughout the day. although not BigE's trading times, all 5 winners. gbpchf (bounce), nzdusd, cadjpy, audusd, usdcad...
I took a conservative 20 pip TP on each because of the newsless day, could have been double that if I let them run to flat TDI.
Great system! ( I had a little help from alerts...)
Keep at it guys, it works!
What times did you take these trades. Thanks
  • #9,030
  • Jul 29, 2011 5:00pm Jul 29, 2011 5:00pm
anyone have performance history of this system?? like profit factor DD %profitable etc.. ???
The HolyGrail is within your BRAIN ... Activate that Indicator !!!
  • #9,031
  • Jul 29, 2011 6:39pm Jul 29, 2011 6:39pm
Quoting 33drifter
Heynjea,

this is the chart i was refering too.


Dean, and anyone else whos interested

Ive actually included the number 2 TDI line in my trading. As dean Malone suggests, i only buy above the yellow line and sell below it

in the attached chart the green circles show good trades on the corret side of the yellow line and the red ones are on the wrong side. If you do a bit of backtesting using the yellow line as a filter you will see that it keeps you out of alot of bad trades (and some good ones too).
What is the yellow line here? Thanks
  • #9,032
  • Jul 29, 2011 7:01pm Jul 29, 2011 7:01pm
Hi..
I have downloded tdi..but i am not able to incoporate it into metatrade 4 platform..pls tell me steps to linkitwith metatrader 4 platform...
Thanx
  • #9,033
  • Jul 29, 2011 7:51pm Jul 29, 2011 7:51pm
Quoting FX-Trader
Goto the top of this thread - click the attachments button, choose hide images and it's about 2/3 down on page 1.
FX trader, Thanks for your help.
  • #9,034
  • Jul 29, 2011 7:56pm Jul 29, 2011 7:56pm
Quoting GT_Pips
Sure I will tell what i use to trade with.
For forex I currently use the "Big E system" on 4H and I use "Easy Forex Color Coded Trend Trading Manual System" for 1H and 30M time frames.
For stocks I use the BrainTrading System on the Tradestation platform coupled with a market sentiment meter and a trend strength meter both which i coded myself in Easy Language.

Is the Easy Forex Color Coded Trend Trading Manual System consistently profitable and where can it be found? Thanks
  • #9,035
  • Jul 29, 2011 8:18pm Jul 29, 2011 8:18pm
Quoting FX-Trader
Fitness you say you had a TP at 20 and moved to 40 and thought to close at +20 on a stop so does this mean you didn't have a programmed stop? After many trades I have always found it best to have the programmed stop as we almost never get out when we intend to unless you are a robot. You followed the rules but left one rule to judgement... the stop trigger. I made this mistake over and over literally a hundred times and finally said to myself - just program the stupid thing + the spread of course. So that is what I do now, I also sell half at 10-15pips...
Correct. I had submitted a TP order at +20. The market was moving pretty aggressively, so I edited that TP order to +40. I was manually watching the trade when my wife comes and tells me she needs the computer for a second. Normally, I would set a sl, but since I was at the screen watching the trade, I could identify the candles and PA and get out myself. The problem was when I got up, I thought to myself no need to set a sl here because 1. the market was moving down nicely and 2. my wife was only going to be a second. I was watching my office screen on my ipad through logmein. When I saw it had reversed pretty quickly, I hopped up and went to close my position. When I did, I was already down like 32 pips.

Lesson learned. I do not have any robots that take over my trades after I place them. Is it something worth looking in to, and if so, which ones? Thanks for the responses.
  • #9,036
  • Edited 9:19pm Jul 29, 2011 9:08pm | Edited 9:19pm
Just interesting but more if some add in each a TDI . . . only an idea . . .
author: http://codebase.mql4.com/ru/5700
Attached Image (click to enlarge)
Click to Enlarge Name: multi_chart_ha.gif Size: 45 KB
Humble & Kalcker CLO2 = Covid killer
  • #9,037
  • Jul 29, 2011 10:09pm Jul 29, 2011 10:09pm
Has anyone used a 6 CCI on the red/green TDI?
  • #9,038
  • Jul 29, 2011 11:03pm Jul 29, 2011 11:03pm
Quoting cugir321
Has anyone used a 6 CCI on the red/green TDI?
experimented with cci.....found it to be of no use. I constructed a tdi indi with cci as its base instead of rsi, and it was almost identical, no practical use. I also overlaid the cci onto the tdi indi in order to use as a type of filter..didnt work.
  • #9,039
  • Jul 29, 2011 11:30pm Jul 29, 2011 11:30pm
Quoting piprac
If you have Win7 the install procedure is different, let me know if you have 7 and I will post the instructions. I had a lot of trouble before getting help with Win7. p
Hi Piprac,

Yes, I am running Win7. Please post instructions to setup indicators.

Much appreciated.

John
The consistency you seek is in your mind, not the markets. Mark Douglas
  • #9,040
  • Jul 29, 2011 11:43pm Jul 29, 2011 11:43pm
Quoting Erebus
TRY THIS, if you are half computer literate, open MT4 :

- press F4

- click the files folder icon

- where it says 'Look in:' the folder should be "indicators"

- if you have more than 1 MT4, you can use the green up arrow to check exactly where you are within the Windows folders

- if you are in the right MT4 indicator folder - Can you now still see the TDI indicator(s)?

- double click it, then top of menu

- click "Compile"

- this MAY update it and make it visible, good luck
Erebus,

Thanks for the tips but unfortunately it didn't integrate the indicators into MT4 after compiling them.

I'm setting this up on a demo account but I can't see how this would make a difference. I am accessing the indicators in the MT4 demo folder so it should be no different to a live account setup.

John
The consistency you seek is in your mind, not the markets. Mark Douglas
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