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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

  • #9,341
  • Aug 5, 2011 9:04am Aug 5, 2011 9:04am
That gived us more profit!
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  • #9,342
  • Aug 5, 2011 9:23am Aug 5, 2011 9:23am
Quoting TraderDC

At the end of the day its not how much the market has moved but how many pips you pocketed. I don't get frustrated any more when I see the market moved 500 pips and I made half of it instead of all. I know that that half is mine all mine

So get your emotions in check and leave them in the other room with your GF when trading and bring in some pips.

Peace
I love the whole piece you wrote as I am also a firm believer in that. The other belief I have is Risk management and more often this is overlooked also.

So what if you missed the move of 500 pips, I promise you the market will be here again tomorrow and the day after that and it will not go away anytime soon.

Patience (sitting on your hands) is all that is needed.

Enjoy the weekend guys.
  • #9,343
  • Aug 5, 2011 9:27am Aug 5, 2011 9:27am
Quoting aren
That gived us more profit!
Thank you that looks better
Your Personal Forex Companion + Forex Program Developer + Forex Mentor
  • #9,344
  • Aug 5, 2011 9:30am Aug 5, 2011 9:30am
Right now, I am looking at EURJPY, the top one is from my Meta Trader 4 Demo, and the bottom picture is from FXDD Meta Trader Account that I just started. I'm going live baby!!! I'm looking to go long on EURJPY, but am skeptical because the first candle sort of looks like a dojistick, and the second candle isn't very strong.

Is anyone else looking at this? What are your criticisms?

Btw, FXDD is slower than my Meta Trader 4 Account.
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  • #9,345
  • Aug 5, 2011 9:56am Aug 5, 2011 9:56am
Quoting hyperspeeds3
Right now, I am looking at EURJPY, the top one is from my Meta Trader 4 Demo, and the bottom picture is from FXDD Meta Trader Account that I just started. I'm going live baby!!! I'm looking to go long on EURJPY, but am skeptical because the first candle sort of looks like a dojistick, and the second candle isn't very strong.

Is anyone else looking at this? What are your criticisms?

Btw, FXDD is slower than my Meta Trader 4 Account.
I think that you have read correctly. If you drop down to H1 you will see indecision. and actually TDI has turned down.

1. A bounce on H1 or a break of 112.1 might be OK
2. I am extremely leery of anything Yen lately.
3. If you have valid reasons not to trade (late on Friday) then don't. A chance will come later.

FS
  • #9,346
  • Aug 5, 2011 11:08am Aug 5, 2011 11:08am
http://iup.2ch-library.com/i/i0383922-1312560359.png

I enter sell red line.
But PA is likely to be reversed and I am fearful.
  • #9,347
  • Edited 12:21pm Aug 5, 2011 11:37am | Edited 12:21pm
Thanks for the input ForexSam,

What's the deal with the yen now though?

In addition, I have a question about exiting, I know you're supposed to exit your trade when the green TDI line goes flat, starts to hook over or makes a checkmark reversal. Say if my stop loss is at the last highest high or lowest low, do you guys try to set like a ratio of Profit:Loss like 4:1. or 3:1? Or do you just let it ride out, and wait till the next 4 hours to see if its still pointing at the same angle.

On my demo account, I just let it ride out, if I saw it cross, and then waited for the next 4 hour signal to come through rather than watching for the entire 4 hours. On another note, I made my demo account's 5k turn into 7.3k in 2 days. I made only two losing trades, but that was because I let it run over night.

I feel like if it goes flat often, you might want to just set a T/P. I'm just asking if you guys play this strategy conservatively or be aggressive just let the it ride out and wait to make like +100 pip trades? What do you guys think?
  • #9,348
  • Edited 3:01pm Aug 5, 2011 1:27pm | Edited 3:01pm
As the original title of this thread is Trading Made Simple, I'm slowly making it more complicated with information overload!!!
New to forex and I went live right after the yen started to recover.
Needless to say, I did really well, although I would have preferred to have gone live before the Japanese MOF dropped his bomb but...

I need some assistance with my template as I am overloading my brain with signals. I'm a trend watcher first and foremost, although I would like to include some news triggers in my trading.
Also need some assistance/suggestions for finding impartial news sources and or news letters if you please.

I attached the indicators used on my template as I'm sure a couple may not be used by everyone.

Thanks for the help.
Attached File(s)
File Type: tpl stephens_default.tpl   26 KB | 588 downloads
File Type: rar indicators.rar   87 KB | 829 downloads
More than a grain of salt is advisable
  • #9,349
  • Aug 5, 2011 1:30pm Aug 5, 2011 1:30pm
I'm a fairly recent follower of this great system. I just gotta say, one of the most amazing things about it is how well it often tells you when to exit a profitable run. Take the AUDUSD today, the attached chart. I drew the two vertical red lines mark where to get out: where the TDI green line changed direction - the first one to exit the short position, the second one to exit the long. By trusting the green line, I got out at the open of those two candles - at maximum profit! I have no idea WHY that green line changed it's slope at those two particular candles - especially since the candles immediately preceding did not indicate a slowdown of momentum, or pullback, or anything I can discern. Does any of the experts know?? wne
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  • #9,350
  • Edited 3:09pm Aug 5, 2011 2:07pm | Edited 3:09pm

I thought i Have had enough for the week, but pips kept coming, signal on 4hr when price refuse to go further on multiple bars (s/r) and new tms cross and signal , entry on 15 minutes chart
TODAYS TRADE=
CARRY OVER USDCHF= 35+ pips
GBPUSD= -35 pips buy (closed personally before Non-Farm Employment Change)
Gbpusd= 98+ pips re-entry after news
HAPPY WEEKEND
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We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #9,351
  • Aug 5, 2011 2:11pm Aug 5, 2011 2:11pm
Quoting Krypty
I love the whole piece you wrote as I am also a firm believer in that. The other belief I have is Risk management and more often this is overlooked also.

So what if you missed the move of 500 pips, I promise you the market will be here again tomorrow and the day after that and it will not go away anytime soon.

Patience (sitting on your hands) is all that is needed.

Enjoy the weekend guys.
100 % thats the part I left out, risk management thanks for the add
  • #9,352
  • Aug 5, 2011 4:15pm Aug 5, 2011 4:15pm
Quoting Callisto
As soon as I get over the facts, that, A - there has been a fundamental shift in a lot of currencies, Swissy, YEN, DOW down 500 Asia down 4-5%, B - this would be a counter trend trade, because C - all you can see is SELL signals on 1 hour chart, I'm writing that GEM into my Trading Plan

sorry if that seems blunt, but it is only as blunt as you losing your $$$$ have you got a stop in place or do only exit when the pain of losing 1 more dollar is greater than admitting your bias is wrong?
Hi Callisto,

You're not being blunt at all. Thanks for your comments. It was a gem trade indeed, he he. Demo trading here still, so no loss, only gain, by throwing my novice thoughts out here to the forum, and getting constructive feedback such as yours. I still have lot's to learn, pun intended.

Thanks again, and good trading all. (the sensible kind)
'Fail to plan, plan to fail'
  • #9,353
  • Aug 5, 2011 4:37pm Aug 5, 2011 4:37pm
Quoting DaveUK
Heya G

You could be right but yes, it'd be far too early for me to be thinking of an entry. One thing came to mind when I read your post: the old 'trade what you see, not what you think' thing. Whatever anyone says, it's a lot easier to say that than to do, I know. Just something to have in the back of your mind.

I watched the '3 amigos' (GBPUSD, EURUSD and AUSUSD) during the recent bear run. The Aussie was by far the weakest. While the other two retraced quite a bit on their way down, the Aussie fell like a stone, constantly pressing new lows....
Thanks for taking the time to respond Dave. And thanks everyone else for your input.

All food for thought. Looking forward to next weeks trading.

Have a beaut weekend all.
'Fail to plan, plan to fail'
  • #9,354
  • Aug 5, 2011 9:08pm Aug 5, 2011 9:08pm
Quoting hyperspeeds3
Thanks for the input ForexSam,

What's the deal with the yen now though?

In addition, I have a question about exiting, I know you're supposed to exit your trade when the green TDI line goes flat, starts to hook over or makes a checkmark reversal. Say if my stop loss is at the last highest high or lowest low, do you guys try to set like a ratio of Profit:Loss like 4:1. or 3:1? Or do you just let it ride out, and wait till the next 4 hours to see if its still pointing at the same angle.

On my demo account, I just let it ride out, if I saw...
I am going to answer true to the system. You should let it ride until the TDI goes flat or hooks at the open of a new candle.

Set your trade and walk away for 4 hours. If it is flat, close. If it isn't check back in 4 more hours. This is Trading Made Simple.

FS
  • #9,355
  • Aug 5, 2011 10:57pm Aug 5, 2011 10:57pm
Quoting aren
That gived us more profit!
Be careful of curve fitting - The method doesn't need re-fining. The settings have been played with for a long time by Big E. What Big E and crew teach works, you just need to execute consistently following the rules.
  • #9,356
  • Aug 6, 2011 12:06am Aug 6, 2011 12:06am
Trading system is a easy process because we can make money by buying at low prices and selling at higher prices than what you bought it for thus creating a profit. Although trading market is open nonstop and we can make money fast.
  • #9,357
  • Aug 6, 2011 3:37am Aug 6, 2011 3:37am
What I learned from demo trading is that a trading system does not have to be complicated. A simple trading system with less than 5 indicators works very well for me.
  • #9,358
  • Aug 6, 2011 5:11am Aug 6, 2011 5:11am
eelfranz

Thank you so much for your simple system.
I hope this file can help people who are new(like me) in this system.
This is include of some important eelfranz's posts upto now.But I recommend to read all thread.
Attached File(s)
File Type: pdf TradinMadeSimple.pdf   1.4 MB | 2,833 downloads
  • #9,359
  • Aug 6, 2011 9:44am Aug 6, 2011 9:44am
Hi Would someone mind clarifying the ema settings is it a 5 ema set to close, or is it a 5 sma set to hlc/3?
The question arrises from the first few post by eelfranz..stating the 5 ema, but the templates have different settings for the 5 ?ma.
Many thanks
  • #9,360
  • Aug 6, 2011 10:02am Aug 6, 2011 10:02am
Quoting neshat
eelfranz

Thank you so much for your simple system.
I hope this file can help people who are new(like me) in this system.
This is include of some important eelfranz's posts upto now.But I recommend to read all thread.
Hi all

I read the complete Thread and have this resume in one file is always really good, thanks!!!
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