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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #9,361
  • Aug 6, 2011 10:17am Aug 6, 2011 10:17am
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.
Neshat...This is a HUGE time saver. Thank you so much for making it available to us.
  • #9,362
  • Aug 6, 2011 3:34pm Aug 6, 2011 3:34pm
Very well put together


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.
  • #9,363
  • Aug 6, 2011 4:10pm Aug 6, 2011 4:10pm
Hey guys,

I've been having trouble figuring out how to get to those bread and butter trades, the ones that you gain +50 to +150 pips. I know, I've seen in the earlier pages of the thread that there was some people reporting +140 +120 pip trades.

I'm having trouble getting these type of trades, and am wondering how you guys accomplish these bigger PIP trades? How do you know to stay in? Sometimes it's not that obvious, like the bounce trades. I'm a beginner, but for the past 2 days I've been demoing and am up +220 pips. My largest pip gain was about +60 pips. I've lost 2 trades to stop loss.

Could anyone post trades with charts and your analysis on why you stayed in for a longer position? Or direct me to a post or thread page that has +100 pip trades. Plz.


Also, does anyone have any Trailing Stop EA's after you've earned profit? My 2 losses could have been prevented if I had trailing stops. This would be extremely valuable and would definitely make this system even more successful. (I just read a book about a South African trader named Hoosain Harneker who uses this sort of system, or robot)

Thanks Eelfranz and everyone who has contributed to this thread. Hopefully with this system, I will become a forex day trader in the future as my career, (I'm a college student, and I really am not looking forward to being an accountant)
  • #9,364
  • Aug 6, 2011 5:08pm Aug 6, 2011 5:08pm
Quoting hyperspeeds3
Hey guys,

I've been having trouble figuring out how to get to those bread and butter trades, the ones that you gain +50 to +150 pips. I know, I've seen in the earlier pages of the thread that there was some people reporting +140 +120 pip trades.

I'm having trouble getting these type of trades, and am wondering how you guys accomplish these bigger PIP trades? How do you know to stay in? Sometimes it's not that obvious, like the bounce trades. I'm a beginner, but for the past 2 days I've been demoing and am up +220 pips. My largest pip gain was...

what time frame r u trading with? if ur time frame is not less than 1hr u shd b able to see trades that runs for hundreds of pips.
Attached Image (click to enlarge)
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  • #9,365
  • Aug 6, 2011 5:17pm Aug 6, 2011 5:17pm
Greetings All,

Seeing as we have a host of new folks posting on the thread, here are the indicators for TMS as it was orignally put together by Big E plus some suggestions - do these in order - do not skip - do not collect $200 and do not pass "GO".

Sending you a template will not work unless you already have the following set of indicators, so please follow the instructions. We would rather keep this tread free of set up questions and basic MT4 issues - hence this post.

Step 1 - Go to http://www.babypips.com/school/ and compete their School of Pipsology - it's free and most of you will learn a ton about Forex - even those of you who know it all already!

Step 2 - Go to Post # 1 of this thread and read at least read through the first 100 posts - do not download any indicators at this pont in time - patience - keep reading. We would of course, rather you read the complete thread and take not of the experts.

Step 3 - Open your trading platform and set up a new chart

On the main chart set up a Moving Average (from the Trend section in MT4 Indicators) - set to 5 with a shift of 2 or 3 (Big E uses 3), With regards to MA Method - the preferred setting is Exponential and set Apply to Typical Price (HLC/3).

Also on the main chart you are going to be using Average Price Bars - APB - download the indicator from the list below.

Select F8 and choose your colours - set the "Line Graph" to "No Colour" and then on your main chart click on / select "Line Chart" - all your candles / bars will disappear and you will be left with the Average Price Bars and the MA5.

Step 3 is complete for the main chart - that is it.

Step 4 - add TDI Red Green indicator form the list below. For changes to the TDI, there are a variety of other indocators on this thread but this is the basic TDI with all but the red and green lines set up with no colours - you can always edit the colours.

Step 5 - add Stochastics and make sure they are set to 8,3,3 from the Oscillator section of MT4 indicators - colours are your choice.

Step 6 - Read all of Big E's posts and spend the time and effort to review his set up charts in detail.

Step 7 - Back Test on your preferred trading time frame - your choice but most of the successful folks are using 4 hour and day charts although they may drop down to lower time frames when trading more active markets. Figure out what makes for a good trade entry and the differing types of exits. This method works on all time frames - your time bars will vary according to the broker that you use - this does not make a significant difference, especially on the higher time frames.

Step 8 - Get familiar with MT4 - read the MT4 document in the list.

Step 9 - Now you can ask questions from the group.

Step 10 - Further Reading - using the attachments section for this thread (upper right hand corner - paperclip) - click on the paperclip - then clip on Attachments "hide images". Now go and read the pdf files and doc files for trading the system.

With all that said - happy reading :-)
Attached File(s)
File Type: ex4 ### Synergy_APB.ex4   4 KB | 550 downloads
File Type: ex4 TDI Red Green.ex4   5 KB | 592 downloads
File Type: doc MT4 navigational tips and techniques.doc   50 KB | 679 downloads
"To live with Passion, it takes Courage and Grace to survive"
  • #9,366
  • Aug 6, 2011 6:26pm Aug 6, 2011 6:26pm
Quoting hyperspeeds3
Hey guys,

I've been having trouble figuring out how to get to those bread and butter trades, the ones that you gain +50 to +150 pips. I know, I've seen in the earlier pages of the thread that there was some people reporting +140 +120 pip trades.

I'm having trouble getting these type of trades, and am wondering how you guys accomplish these bigger PIP trades? How do you know to stay in? Sometimes it's not that obvious, like the bounce trades. I'm a beginner, but for the past 2 days I've been demoing and am up +220 pips. My largest pip gain was...
A positive 220 pips in two days is GREAT!! It is nice to hit homeruns, however it is singles that win the game. Being consistant is the key to success. You must take what the market gives you and move on to the next trade.
  • #9,367
  • Aug 6, 2011 7:30pm Aug 6, 2011 7:30pm
Any idea on how the US downgrade is going to affect trade from tomorrow? It might be a very volatile market or the downgrade might have been priced in already, reason why Big E system is going to be very useful tomorrow. You guys watch out!
  • #9,368
  • Aug 6, 2011 9:04pm Aug 6, 2011 9:04pm
  •  GT_Pips
  • | Joined Jun 2011 | Status: Dont hate what you dont understand. | 71 Posts
Quoting johnnyfx5600
Any idea on how the US downgrade is going to affect trade from tomorrow? It might be a very volatile market or the downgrade might have been priced in already, reason why Big E system is going to be very useful tomorrow. You guys watch out!
The Big E system should have netted at least 200 pips on a previous short from the EUR/USD and on the EUR/USD long it should have netted at least 150 pips and the GBP/USD long at least 100 pips.
Well at least it did for me.

I closed all my trades out at 3:50 pm NY time and called it a great week.
Didnt see any need to hold over the weekend too much chance for bad or good news to come out.
I like my weekends to be stress free.
Why be greedy when you have been blessed with 3 great big money making trades?
He who wanders, never gets lost. No good deed goes unpunished.
  • #9,369
  • Aug 7, 2011 12:47am Aug 7, 2011 12:47am
Britpip7,

Thanks for taking the time to create the roadmap for newbies. Maybe this roadmap could somehow be put at the start of the thread instead of being lost in the many, many pages. Even just a link put it how Big E put in for the others on one of his first postings.

Just a thought

Happy Trading

John
The consistency you seek is in your mind, not the markets. Mark Douglas
  • #9,370
  • Aug 7, 2011 1:09am Aug 7, 2011 1:09am
not possible to post it towards the beginning you should read the first 100 pages though..
  • #9,371
  • Aug 7, 2011 4:45am Aug 7, 2011 4:45am
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.
Neshat,

I have just browsed through your PDF document and have to say it is one damn excellent document on the TMS strategy. Well documented and wuth good pictures of the training charts too. Even a total newbie to this Forex Business will find it usefull, not sure how long it took you to come up with this but wow, very impressive. We will have to update it as this forum grows by the day. I surely will be sending you 40% of my winnings from my DEMO account!!

Well done indeed, may all the green Pips in Forex Farm come to your door to roost!!
Born to rule my Economic World and Make a Difference!
  • #9,372
  • Aug 7, 2011 8:40am Aug 7, 2011 8:40am
big E just wanted to say awesome work. I have been quietly following the thread for about 3 weeks reading and demo trading it and the results are great!!

I have started to trade it live to add the reality of real money to the equation and as you said follow the rules and the odds area ways in your court, don't and you will be spanked.

Using this method has allowed me to trade higher lots whilst maintaining 1% risk management generating roughly a 20% return on my account in a week!

Due to my line of work I am going to be looking at the 4h and daily charts more however will play with 1h ones when time permits.

Question I have for anyone is if they have tried this on the hkdusd pair at all. The currency is pegged and I know volatility is low but theoretically there should be nice predictable moves which with this method would be highly profitable over weekly time frames. Anyone have thoughts on this? Spread is low too. Only Eason I mention this as it's approaching the top of the peg and previous highs too and the TDI looks like it's about to make a move to the downside soon.

Anyway enough of my ramblings and simply thanks mate love the simplisity, and everyone that is having issues I suggest reading slowly back testing and open your mind. Most of us have bad habits !!

Caio
  • #9,373
  • Aug 7, 2011 9:25am Aug 7, 2011 9:25am
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.
Neshat - Thanks for providing this info from eelfranz. Having it in this format so concise is very helpful.
  • #9,374
  • Aug 7, 2011 10:38am Aug 7, 2011 10:38am
What does everyone think about this weekly time frame setup for a long position on the USDCAD?
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  • #9,375
  • Aug 7, 2011 1:12pm Aug 7, 2011 1:12pm
Quoting spitfire852
What does everyone think about this weekly time frame setup for a long position on the USDCAD?
Looking at the H4 you may want to wait for a lower timeframe to time your entry - this may just be a breathing pause as the week has not yet closed above the previous re-trace.
Attached Image (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
  • #9,376
  • Aug 7, 2011 4:18pm Aug 7, 2011 4:18pm
Thanks to the OP.

I'm posting just to subscribe to this thread.
  • #9,377
  • Aug 7, 2011 7:39pm Aug 7, 2011 7:39pm
Quoting Broncos7
Thanks to the OP.

I'm posting just to subscribe to this thread.
Welcome to the club. Stick to the rules eelfranz set and you'll see results. Good luck.
  • #9,378
  • Aug 7, 2011 7:45pm Aug 7, 2011 7:45pm
So I have been trading this method for a couple month (penny lots for educational purposes) and have had very great results. What has been nagging at my mind is that I frequently run into situations where one TF says sell, drill down, says buy, drill down, says sell, drill down says buy. When I see these types of scenarios I feel very uncomfortable entering a trade because it seems like it could go any direction and either a buy or a sell or be 'ok' per the rules.

Now I guess what I'm asking, is do you 'pros' tend to avoid a trade that looks like this and wait for a signal that lines up with other TF's or do you completely ignore other TF's when evaluating any particular trade. What *I* have been doing is ensuring the I play with the trend of higher TF's and ensure that they don't look like they are about to hook over before I enter any trade. Interested in knowing what others think on this aspect...

Thank ya kindly in advance for any input,
-K


EDIT: I tend to think of this as the currency pair entering into a ranging period or possible reversal when I see this, is this correct?
  • #9,379
  • Aug 7, 2011 7:52pm Aug 7, 2011 7:52pm
  •  GT_Pips
  • | Joined Jun 2011 | Status: Dont hate what you dont understand. | 71 Posts
Quoting spitfire852
What does everyone think about this weekly time frame setup for a long position on the USDCAD?
You might want to read the pdf version of the system rules listed on thread #9363 and then you would already know what is wrong with the weekly chart.
He who wanders, never gets lost. No good deed goes unpunished.
  • #9,380
  • Aug 7, 2011 8:12pm Aug 7, 2011 8:12pm
Quoting Keltset
So I have been trading this method for a couple month (penny lots for educational purposes) and have had very great results. What has been nagging at my mind is that I frequently run into situations where one TF says sell, drill down, says buy, drill down, says sell, drill down says buy. When I see these types of scenarios I feel very uncomfortable entering a trade because it seems like it could go any direction and either a buy or a sell or be 'ok' per the rules.

Now I guess what I'm asking, is do you 'pros' tend to avoid a trade that looks...
I think that you are thinking too much. If you don't care about your penny lots, and are truly willing to experiment, then simply enter the trade on the H4 cross. Or move to a demo account and learn to trust.

You can certainly use a signal on a Higher TF, and then start trading on M5 or M15. I believe that this would improve any M5 signal/system, however, IMO you are now missing the true beauty of this system...you can walk away, go play with the kids, read a book, or go to bed.

FS
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