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Trading Made Simple

  • #10,341
  • Aug 20, 2011 1:51am Aug 20, 2011 1:51am
Quoting Phx62
[font=Calibri][size=3]I have been studying, learning and trading on demo with Big E's "Trading Made Simple" & "5 Method" since he opened the CH Stochastics thread in Dec 2009. I feel very fortunate to have been able to learn these methods from Big E and the other contributors of these two threads and am trading this method on a live account now, since November of last year (after many months of demo trading). Even with some mistakes, my account continues to grow and this week produced the highest yield to date (see screenshot). I usually only...

Actually, on closer inspection of your chart, I must say CONGRATULATIONS, there is more example in that 1 chart than even I see from the master; this is a shining example of what can be done when some thinking is applied to just a single currency instead of all these posters chasing every pair traded, excellent work, very good, and so much easier than reading the whole thread !!!
It takes a lot for me to IGNORE you, but you can try.
  • #10,342
  • Aug 20, 2011 3:01am Aug 20, 2011 3:01am
To make the trading as much easy then the following tips keep in mind :
- Losses are inevitable and not a reflection on you or your skills
- Profits will come and you need to preserve equity until they do
- The market price is always right regardless of your opinion
- If you always trade with discipline and stay with your strategy, you will win
  • #10,343
  • Aug 20, 2011 3:54am Aug 20, 2011 3:54am
Quoting amiraliforex
today steitment :

Attachment

wekkly steitment:

Attachment

Amiraliforex, that was an impressive result. Which time frame are you using?
  • #10,344
  • Aug 20, 2011 5:53am Aug 20, 2011 5:53am
Quoting Forethan
Well i start forex since 2 months.
After suscribing to a man who sent signal my account with that stay in the same position.
Worse, i was loosing 142 euros.
I read the Big E trading systems since 1 month.
I trade for real (with big E startegy)since 1 week and what i can say is : im in the positive of +17euros
(always playing at 1pip=1$ so 0.01 dukascopy lots)
So with big e method in 1 week of trading ive made 142+17 = 159euros so
Maybe lucky or maybe i've strictly follow the simple rules according to the basic fx like said big E.

So let see in...
@Forethan.
Just saw what you wrote.
I have an advise for you.
Yes what you did was lucky (we all need it daily in our lives),BUT don't forget that you did the work yourself and not somebody else did it for you.
What you need to do now is,Look at ALL what you did to make those pips/money and continue to do the same thing over and over.
Don't change any MAJOR thing,
I have been there before,and i know most have too.
You make success in a day or two then you start adding or changing things (GREED sets in) in order to improve it or to make more money.
Then you start loosing and going berserk.
Don't change a winning system( if only we could all do it).
But we are Humans after-all.

Cheers.
It Is Well With My Soul..(Amen)
  • #10,345
  • Aug 20, 2011 8:17am Aug 20, 2011 8:17am
Quote
Originally Posted by Phx62 http://www.forexfactory.com/images/buttons/viewpost.gif
I have been studying, learning and trading on demo with Big E's "Trading Made Simple" & "5 Method" since he opened the CH Stochastics thread in Dec 2009. I feel very fortunate to have been able to learn these methods from Big E and the other contributors of these two threads and am trading this method on a live account now, since November...

Actually, on closer inspection of your chart, I must say CONGRATULATIONS, there is more example in that 1 chart than even I see from the master; this is a shining example of what can be done when some thinking is applied to just a single currency instead of all these posters chasing every pair traded, excellent work, very good, and so much easier than reading the whole thread !!!

Erebus - I could not agree more. This is clearly the approach of a successful and profitable trader. You can almost feel the relaxed and consistent methodology by looking at his chart. Well done Phx62 - a shining example of what trading can be for those that follow directions and have the discipline and control to follow a plan. Congrats.
  • #10,346
  • Edited Aug 21, 2011 7:30am Aug 20, 2011 8:31am | Edited Aug 21, 2011 7:30am
There has been some discussion in this thread as to where and why to place stops and take profits. As far as Big E's rules, posts in this thread would suggest very few traders follow them to the letter.

My suggestion is that if you are trading two lots or multiple lots and have a defined system for profit targets (other than the flattening or opposite cross of the RSI as in Big E's rules), there are advantages (other than the obvious) for closing one position at a shorter target and moving stops to breakeven on the remaining position.

The advantage is the shorter target satisfies the greed and anxiety elements that we cannot psychologically escape. The "relief" of closing a trade in profit while managing a second or additional positions that are now "free" trades (after moving to breakeven) will develop the patience required to actually let your profits run in a strong move or trend. You have banked some pips, can now relax with risk off the table, and actually get to the business of managing an open position without anxiety.

If you have done any demo trading, there is no risk and therefore the tendency is to not follow your plan as there are no consequences for a loss or bad judgment. In a live account, those consequences are real and the anxiety intensifies. To lessen the worry, setting a shorter, more statistically achievable first target will increase your wins, build good trading plan execution habits and reinforce your discipline and control. How? You have a very high positive expectancy for the first target, which you will tend to leave alone. At the same time, you have not eliminated the occurrence of letting your profits run on the other position should there be a huge continuation move in the direction of your trades. You now have the bases covered - you have satisfied your greed and fear and have not closed the door on potential additional profits.

Where to place stops? Structure and swings can be great places for stops and targets, but your trading plan back testing stats will reveal if those are adequate distances to let the market breathe based on your rules and your tolerance for draw downs and risk.

I was always told 10 pips above or below swings was an adequate placement for stops. I found that I was getting stopped out frequently, only to have price move in the original direction of my trade. When I back tested, I found that bigger stops meant bigger profits; so if price retested structure or swings, which it often does, I was still in no danger of getting stopped out and my trades more frequently hit my profit targets. However, this did require more patience on my part. I find that 1:1 risk reward on my first profit target works well. The second position has the same risk, but more earning potential as profits run. Managing the stop (or placing a trailing stop) is a another skill that will add to your account.

Try to set a specific, high probability first target and practice managing a second target open position that may have more pip potential. You will trade less, but you will have as much, if not more, consistent profitability. This will correlate to fewer and better trades with less stress. I never add to an open position. If my second position trailing stop is hit and closes the trade, I will re-enter on the next TDI cross after the retrace and continuation in the direction of the trend - or re-enter on the next valid set up on another pair.

A side note - conventional wisdom conforms to the idea that certain times of the year are "slower" and have less volume. These observations may be factually correct, but do not mistake that there are fewer trading opportunities for you - which is an important distinction. The fact that it is August is often readily accepted that somehow there are less opportunities . . . and indeed there might be. How many opportunities does one need? Since August 1, the EUR/USD has averaged a range of over 200 pips per day! Others have moved more. That is not a slow month! If you took 3 or 4 trades in the last two weeks with no losers you'd be done for the month! In any event, do not let your guard down, get lazy or lessen your focus because of the time of year. There is always opportunity for those that stay sharp!
  • #10,347
  • Aug 20, 2011 10:08am Aug 20, 2011 10:08am
I have been following this thread since last month, and I have started using the Big E's Method on Demo with little gain and more lose on my account. Therefore can someone me help out on the actual timeframe(5 15M, or 1Hr - 4hr, daily weekly or monthly ) for the Big E's Methods
  • #10,348
  • Aug 20, 2011 11:51am Aug 20, 2011 11:51am
I need to know why, in the attached graph, MT4 freezes momentarily when I go on TF 1H, while scrolling through all the other TF nothing happens. For example 4H, D1, 1M, 15M, etc. up and down. okay, if I go to one of these 1H, MT4 take long to load. Use candles Sinergy_APB that I changed the color and thickness.
Sorry for the trouble, Regards
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpg Size: 171 KB
  • #10,349
  • Aug 20, 2011 11:58am Aug 20, 2011 11:58am
Quoting alkenany
shorted eu4390
hi mate, can you share your pivot point indi? thanks
have a good weekend
  • #10,350
  • Aug 20, 2011 12:32pm Aug 20, 2011 12:32pm
If ever there has been a strategy that would make me get up in the middle of the night to trade, it's this one. I have known for 4 years that London is the forex king (or Queen E. in this case) and when I see the London success that some traders here are having I am very tempted. When one is in their 70s a middle of the night bathroom trip is a given so maybe I can combine the two! p
  • #10,351
  • Aug 20, 2011 1:32pm Aug 20, 2011 1:32pm
Quoting dcginc
There has been some discussion in this thread as to where and why to place stops and take profits. As far as Big E's rules, posts in this thread would suggest very few traders follow them to the letter.

[color=black][font=Verdana]My suggestion is that if you are trading two lots or multiple lots and have a defined system for profit targets (other than the flattening or opposite cross of the RSI as in Big E's rules), there are advantages (other than the obvious) for closing one position at a shorter target...

Outstanding post dcginc !

Individual Psychology is the key to success in this business and you have tagged it with a well define Money Management Strategy. This is truly one of the best read I have found on this topic..
  • #10,352
  • Aug 20, 2011 3:09pm Aug 20, 2011 3:09pm
Quoting GT_Pips
Gess, now your in this thread talkiing about some freaking trade explorer.
You still havent learned from the other threads that you posted that crap in, that no one cares about proving anything to you.

The only proof I need is to look at my account balance at the end of the week to know if the Big E system works or not.
If you too lazy to read the entire thread and put some time into trading the system and your just looking for someone to give you a life hack so you dont have to do any actual work.
Then your SOL here.

Maybe someone else will...

And yet another time wasting muppet wanting everyone to post their accounts for a feel good moment. As per GT Pips' comments - same question on every thread he posts to with no mention as to their results or recommendations and no constructive comments.

Just another one to add to the block list!
"To live with Passion, it takes Courage and Grace to survive"
  • #10,353
  • Aug 20, 2011 3:15pm Aug 20, 2011 3:15pm
Quoting deniyi
I have been following this thread since last month, and I have started using the Big E's Method on Demo with little gain and more lose on my account. Therefore can someone me help out on the actual timeframe(5 15M, or 1Hr - 4hr, daily weekly or monthly ) for the Big E's Methods

If you were to only spend the time to read the thread from post #1 and the doc and pdf file in attachements you would be able to help yourself rather than posting rather uneducated comments such as this and similar comments on other threads.

another one for the block / ignore list
"To live with Passion, it takes Courage and Grace to survive"
  • #10,354
  • Aug 20, 2011 3:37pm Aug 20, 2011 3:37pm
Good one

Quoting GT_Pips
Gess, now your in this thread talkiing about some freaking trade explorer.
You still havent learned from the other threads that you posted that crap in, that no one cares about proving anything to you.

The only proof I need is to look at my account balance at the end of the week to know if the Big E system works or not.
If you too lazy to read the entire thread and put some time into trading the system and your just looking for someone to give you a life hack so you dont have to do any actual work.
Then your SOL here.

Maybe someone else...
  • #10,355
  • Aug 20, 2011 4:33pm Aug 20, 2011 4:33pm
FXSolutions is telling me that trailing stop are not possible due to FIFO rules. I find this hard to believe. Anybody that uses FXSol and trailing stops I would appreciate the help.

I have back tested this neat system on EUR and Cable 4H and it is incredibly accurate. Thanks Big E
  • #10,356
  • Aug 20, 2011 5:03pm Aug 20, 2011 5:03pm
Quoting babasemi
@Forethan.
Just saw what you wrote.
I have an advise for you.
Yes what you did was lucky (we all need it daily in our lives),BUT don't forget that you did the work yourself and not somebody else did it for you.
What you need to do now is,Look at ALL what you did to make those pips/money and continue to do the same thing over and over.
Don't change any MAJOR thing,
I have been there before,and i know most have too.
You make success in a day or two then you start adding or changing things (GREED sets in) in order to improve it or to make more...
thank you for the encouragement! and advice!
  • #10,357
  • Aug 20, 2011 5:34pm Aug 20, 2011 5:34pm
Had to switch brokers because of the continuing over regulation of the U.S. government. I installed the indicators into my experts/indicators folder but I can not get it to install into my brokers navigator. Anyone with any ideas?
  • #10,358
  • Aug 20, 2011 8:30pm Aug 20, 2011 8:30pm
Quoting buyorsell
hi mate, can you share your pivot point indi? thanks
have a good weekend
hi buyorsell
sorry being late, i just see ur post.
here the indicator,and u have good weekend too
Attached File(s)
File Type: mq4 FiboPiv_v2.mq4   5 KB | 613 downloads
  • #10,359
  • Aug 20, 2011 10:40pm Aug 20, 2011 10:40pm
This is for traders in Europe and likely Asia and A/NZ who trade London.

I think I remember that Big E said he would trade London on H1 IF he were up, which he isn't.

I'm in Big E's time zone (Pacific) and have the same issue, London is my overnight, BUT was considering rearranging my day/night cycle IF trading H1 was significantly better for you than just the H4 signal at 0200 PDT which is 10 am London, I believe.

Please share your time frame stories if this is your principle trading time.

Many thanks, Forest
  • #10,360
  • Aug 21, 2011 12:14am Aug 21, 2011 12:14am
Quoting Forest-Sea
This is for traders in Europe and likely Asia and A/NZ who trade London.

I think I remember that Big E said he would trade London on H1 IF he were up, which he isn't.

I'm in Big E's time zone (Pacific) and have the same issue, London is my overnight, BUT was considering rearranging my day/night cycle IF trading H1 was significantly better for you than just the H4 signal at 0200 PDT which is 10 am London, I believe.

Please share your time frame stories if this is your principle trading time.

Many thanks, Forest
Traders may be able to give you a generic answer to this, but if you want more specifics, you will have to go over the charts and check how your trading plan would have performed in the past.

Mark out the trading day, check for signals, look at the price action, doesn't take long to go back over 100 days to see where you may or may not have made trades.

For example, how would you handle the situation shown on the chart? Many pips to be made but no actual signal during your trading day; will you enter based on price action, eg. the trend is up, breakout of London Open range?

Where is your exit, 100 pips, end of day? Where is your stop, last swing, x Pips?

Only YOU can trade your rules, basically saying that all traders need to back test their ideas, methods, and rules.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 hour backtest.jpg Size: 106 KB
It takes a lot for me to IGNORE you, but you can try.
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