Trading Made Simple | Page 489 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #9,761
  • Aug 11, 2011 7:55pm Aug 11, 2011 7:55pm
Quoting dean
Ok. A tip for everybody:
There have been countless indicators suggested, ea's built, additions to refine and whatever else the human brain attempts to add to this because it seems too simple. So the tip is this:
Go back and read just the first 10 pages and have a GOOD look at BigE's charts. FOr anyone new, BigE is the originator of this thread and developer of this method. He has studied it, overcomplicated it, twisted it, added to it and thankfully in the end simplified it so anybody can use it.
Have a GOOD HARD look at his charts and note the...
Hi Dean, a timely reminder. It seems that it doesn't matter how many times Eric say's it, people want to overcomplicate things. I am guilty, I'm sure you have been in the past. I did go back and read over and it was refreshing.
As a side note, I notice that you are in Oz. Do you start at 3pm EST (Big E's start time) or are you at the terminal earlier looking for trades in the Asian/Australian session ? Also, how have you been going with the method? Is it your only trading method?
Good luck to all.
Cheers, John.
  • #9,762
  • Aug 11, 2011 8:29pm Aug 11, 2011 8:29pm
Quoting Vegas382
Hi Dean, a timely reminder. It seems that it doesn't matter how many times Eric say's it, people want to overcomplicate things. I am guilty, I'm sure you have been in the past. I did go back and read over and it was refreshing.
As a side note, I notice that you are in Oz. Do you start at 3pm EST (Big E's start time) or are you at the terminal earlier looking for trades in the Asian/Australian session ? Also, how have you been going with the method? Is it your only trading method?
Good luck to all.
Cheers, John.
Hi John,
Yes I am also guilty. I import for work so I sit in front of the computer all day anyway...if something takes my eye I will assess it. No I use other methods of trading. Predominently yes I trade this in the afternoon when London opens. I have not been recording trades as I am in what I consider practice mode. Micro lots and no records until I feel confident in my trade selection. I fully understand the method and what to look for , but as I have said in a few posts...the actual trade assessment is the important thing...good signals are easy to recognise, trade assessment is the difficult part.
  • #9,763
  • Aug 11, 2011 8:33pm Aug 11, 2011 8:33pm
Quoting FX-Trader
Penny's entries for the skype room folks
That's a 5 minute chart!
My favorite crochet hook is size J. It's a J-Hook!
  • #9,764
  • Aug 11, 2011 9:04pm Aug 11, 2011 9:04pm
Hi, appreciate anyone who can post a TDI indicator which gives an alert when the green crosses the yellow.
Thank you.
  • #9,765
  • Aug 11, 2011 9:38pm Aug 11, 2011 9:38pm
Quoting kwchau
Hi, appreciate anyone who can post a TDI indicator which gives an alert when the green crosses the yellow.
Thank you.
There's one in the attachments up top called xTDI-Arrow v100. It makes an arrow for when green crosses red and another when green crosses yellow.
My favorite crochet hook is size J. It's a J-Hook!
  • #9,766
  • Aug 11, 2011 10:54pm Aug 11, 2011 10:54pm
Quoting dean
Ok. A tip for everybody:
If you keep it simple and train your eye and brain on the simple basic signals
I just wanted to stress something here that Dean as touched on. This is for the benifit of the new traders and the old ones still adding indi's.

If you need another indi to confirm your trade then 99% of the time it is a bad trade. the good trades are the ones so obvious that you dont even need the tdi (but its there anyway for confirmation). It only happens 2 or 3 times a week (Last week only 1 for me). Look for the simple forex stuff like double tops, heads and shoulders etc and confirm them with the TDI.

if your taking more than 3 or 4 trades a week you are over trading. imagine every trade has $100k on the line, would you still take it??

this was the turning point in my trading, when i realised that i only need the best of the best signals to make a living. all the rubbish trades that need extra confirmation are the ones that will eat away at your profit.


i hope that helps someone out there
  • #9,767
  • Aug 11, 2011 11:02pm Aug 11, 2011 11:02pm
AJ short @79.075

Attached Image (click to enlarge)
Click to Enlarge Name: aj short 79075.jpg Size: 129 KB
  • #9,768
  • Aug 11, 2011 11:04pm Aug 11, 2011 11:04pm
Quoting Fitness09
AJ short @79.075

Attachment
looks like the 3rd or 4th candle to me
  • #9,769
  • Aug 11, 2011 11:11pm Aug 11, 2011 11:11pm
Quoting Fitness09
AJ short @79.075

Attachment
yep no trade, 4th candle.
  • #9,770
  • Aug 11, 2011 11:14pm Aug 11, 2011 11:14pm
Quoting 33drifter
looks like the 3rd or 4th candle to me
I understand how you can see that, but the first two were not very strong and didn't really close strongly below the 5ema. Just my thought. Also, I may catch the 4h starting to roll over.
F09
  • #9,771
  • Aug 11, 2011 11:17pm Aug 11, 2011 11:17pm
Quoting 33drifter
I just wanted to stress something here that Dean as touched on. This is for the benifit of the new traders and the old ones still adding indi's.

If you need another indi to confirm your trade then 99% of the time it is a bad trade. the good trades are the ones so obvious that you dont even need the tdi (but its there anyway for confirmation). It only happens 2 or 3 times a week (Last week only 1 for me). Look for the simple forex stuff like double tops, heads and shoulders etc and confirm them with the TDI.

if your taking more than 3 or 4 trades...
Thanks for the support drift.
I totally agree with this. All of you out there boasting about making 10 thousand pips a week and being on 7 trades at once........this is lunacy and you will get smacked in the face doing that one day. You can make 1 or two trades per week or 50 pips a week and if you can do it consistently you could make a good living. God even 10 pips a week is more than enough if you have the ability to do it week in week out. SO although its great that many are having positive results, dont be stupid enough to think you need 1000 pips a week to survive....its just trading for the sake of it. If you get accustomed to making 30 trades a week and having 5 on at the same time, trust me, there will come a day, week, month when you are on a bad streak and it is a lot quicker to lose an account than build one......especially if you are chasing your tail and making that many trades per week becasue you think its normal.
I couldnt care less that you made 4000 pips this week. However if you were to tell me you have made 5 pips per week for the last 3 years I would be MUCH more impressed.
  • #9,772
  • Aug 11, 2011 11:19pm Aug 11, 2011 11:19pm
Quoting Fitness09
I understand how you can see that, but the first two were not very strong and didn't really close strongly below the 5ema. Just my thought. Also, I may catch the 4h starting to roll over.
F09
yep...your decision....just as long as you know it is against one of the fundamental rules of this method.....first or second candle.
  • #9,773
  • Aug 11, 2011 11:25pm Aug 11, 2011 11:25pm
Quoting dean
yep...your decision....just as long as you know it is against one of the fundamental rules of this method.....first or second candle.
Closed +12. I know the entry is supposed to be on the 1st or 2nd candle, but what if the first or second candle is basically even with the ema? I thought the first candle was the one that was the first to close below the 5 ema?
  • #9,774
  • Aug 11, 2011 11:33pm Aug 11, 2011 11:33pm
Lets say we have a string of 3 HK candles, but only the 3rd on has closed below the 5 ema, is that candle considered the 1st or the 3rd? I do stick to trading just the rules of this method without deviation. Unfortunately, trying to teach oneself something over a thread can sometimes be difficult, especially if I have a question and Big E is not around to answer it personally. Thank you for your help.
F09
  • #9,775
  • Aug 11, 2011 11:38pm Aug 11, 2011 11:38pm
I was also considering this 4 H trade on the EU. The TDI was not very strong, but the first candle closed below the 5ema. I passed on this one because the TDI was not very strong, but I would like to get your opinion on it. Thanks again.
F09

Attached Image (click to enlarge)
Click to Enlarge Name: eu h4.jpg Size: 177 KB
  • #9,776
  • Aug 11, 2011 11:48pm Aug 11, 2011 11:48pm
Quoting Fitness09
I was also considering this 4 H trade on the EU. The TDI was not very strong, but the first candle closed below the 5ema. I passed on this one because the TDI was not very strong, but I would like to get your opinion on it. Thanks again.
F09

Attachment
Ok firstly I wouldnt take that rade either. It is as you say a shallow cross on the tdi. Dont just take trades for the sake of it.
Onto your candles....when the number 1 or 2 is spoken of, it means the reversal candle number. So if it has been trending upwards (blue candles) and turns back down...the first candle is the first reversal or red candle. It has nothing to do with the tdi cross or ema cross. You firstly look at the candles.....if it is the first or second reversal candle you then look at your tdi to see if it has crossed, THEN you do your basics. This chart shows the first candle. I look for a reversal candle, I look at its strength, then I look for the tdi to have crossed, if not I wait for the second candle to open and if on the opening of the candle the tdi crosses, provided my assessment of the basics suits me, I enter. If it was the third reversal candle - no trade..too late.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 197 KB
  • #9,777
  • Aug 11, 2011 11:55pm Aug 11, 2011 11:55pm
Quoting dean
Ok firstly I wouldnt take that rade either. It is as you say a shallow cross on the tdi. Dont just take trades for the sake of it.
Onto your candles....when the number 1 or 2 is spoken of, it means the reversal candle number. So if it has been trending upwards (blue candles) and turns back down...the first candle is the first reversal or red candle. It has nothing to do with the tdi cross or ema cross. You firstly look at the candles.....if it is the first or second reversal candle you then look at your tdi to see if it has crossed, THEN you do...
Thanks for the clarification. So the 1st or 2 candle is of the reversal, not the 1st or 2nd candle that crosses the 5 ema. Essentially, you could have 3 or 4 candles, but the trend may not cross the ema until the 3rd or 4th, and then it is too late. I hope that makes sense, but I understand you explanation. Thanks again!

F09
  • #9,778
  • Aug 12, 2011 12:01am Aug 12, 2011 12:01am
This is a trainer chart I was looking at. I have added some notes about good or bad entries. Please let me know what you think. Thanks.

Attached Image (click to enlarge)
Click to Enlarge Name: aj trainer.jpg Size: 127 KB
  • #9,779
  • Aug 12, 2011 12:05am Aug 12, 2011 12:05am
Quoting Fitness09
Thanks for the clarification. So the 1st or 2 candle is of the reversal, not the 1st or 2nd candle that crosses the 5 ema. Essentially, you could have 3 or 4 candles, but the trend may not cross the ema until the 3rd or 4th, and then it is too late. I hope that makes sense, but I understand you explanation. Thanks again!

F09
Correct........look a few here will ignore really tiny candles and only count the first big one as their number 1 reversal, but lets face it....there are plenty of trades available and why risk it...really.....wait for s great setup not an average, iffy one. Knowing when not to trade will make you more money than trading....or at least save you more money than you will lose taking iffy trades....as drifter and myself have just explained....a couple a week is all you need..perfect that and you have got it made.
  • #9,780
  • Aug 12, 2011 12:10am Aug 12, 2011 12:10am
Quoting Fitness09
This is a trainer chart I was looking at. I have added some notes about good or bad entries. Please let me know what you think. Thanks.

Attachment
That very first candle is very strong...I would have entered that before the close.....this is at my or your discretion. If I see a very strong first candle I am in. Apart from that it all looks good....you are on the right track
92 traders viewing now, 1 is registered:
Cun