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Trading Made Simple

  • #10,501
  • Aug 23, 2011 9:05am Aug 23, 2011 9:05am
Quoting wannaberich
forgot another one:

4 - overleveraging

LOL...how true
Fall seven times, stand up Eight! #GGMU
  • #10,502
  • Aug 23, 2011 9:07am Aug 23, 2011 9:07am
Quoting DaveUK
Ah I'm in the same, but got in a little late. +40 and trailing SL prior to news. Glad to hear things are going well!
Just pulled the pin at 60 pips mate. Home sales bad for the US which can sometimes be bad for euro/aussie etc....risk on.....risk aversion...who knows these days.....60 is plenty for me....R;R 1:2 so pretty happy.
  • #10,503
  • Aug 23, 2011 9:10am Aug 23, 2011 9:10am
hope everything is ok back at PD thread! have to stop by.

trading this system too?

Quoting vickym
LOL...how true
dreams do come true.
  • #10,504
  • Aug 23, 2011 9:11am Aug 23, 2011 9:11am
I mean sometimes bad sometimes good....as in I have no clue how the home sales were going to affect it...and why not just take the extra 25 pips. ...hope that cleared up my ramblings Dave
  • #10,505
  • Aug 23, 2011 9:15am Aug 23, 2011 9:15am
Quoting dean
Just pulled the pin at 60 pips mate. Home sales bad for the US which can sometimes be bad for euro/aussie etc....risk on.....risk aversion...who knows these days.....60 is plenty for me....R;R 1:2 so pretty happy.
Good decision. Whatever the market does now - even if it drops 200 in the next 10 minutes - that's still the kind of decision making that makes for long-term sustainability in my mind.

Mine hit trailing SL at +30 which is fine. The way the market is today, I see these as scalp trades more than anything. Move fast to get in. Move even faster to grab your profit and get out.
  • #10,506
  • Aug 23, 2011 9:15am Aug 23, 2011 9:15am
Hey there!
Yeah, my my stop loss is way out of bounds and lot sizes too big. I am on demo though. I'm fine tuning the system so I can find a good way to implement 1:1 r&r with proper lot sizes. Biggest problem so far is the SL put on the most recent HI/LOW that would force you to diminish your lot size quite some...
  • #10,507
  • Aug 23, 2011 9:17am Aug 23, 2011 9:17am



Quoting DaveUK
... that's still the kind of decision making that makes for long-term sustainability in my mind.
.
dreams do come true.
  • #10,508
  • Aug 23, 2011 9:25am Aug 23, 2011 9:25am
Overnight on the 4hr didn't do much for me. The CHF was the best looker at 1am EST and on the 5am check it was +10. Closed at 8am +5. It looks like the action was on the Hourly during the dark of the night - missed it.
But the morning Hourly just gave me some pips. AUD short at 8am, then the EUR short at 9am EST. I'm out of both now +60 pips. I'm +135 on the week and darn glad to have it!

I'm trading live. I would suggest that those trading demo trade JUST as they would have the funds - or guts - to trade in actual money. I'm not ready to trade a standard lot. Therefore, I would not demo one.
Also, if you pull off a lucky trade that doesn't strictly follow the method as you are trying to learn, overtrade it and make a huge gain, what have you really learned? Believe me, I have done it all. Made every mistake. But when your wallet is on the trade, that's where the rubber meets the road. Better to be realistic and grow from there. Just my 2 cents.

Thanks to everyone for all their sharing. Great thread.
  • #10,509
  • Aug 23, 2011 9:32am Aug 23, 2011 9:32am
not this system. but we could get a signal out of GU if tdi turns down, right?
dreams do come true.
  • #10,510
  • Aug 23, 2011 9:48am Aug 23, 2011 9:48am
Quoting dean
Just pulled the pin at 60 pips mate. Home sales bad for the US which can sometimes be bad for euro/aussie etc....risk on.....risk aversion...who knows these days.....60 is plenty for me....R;R 1:2 so pretty happy.
Im also out at 4403. Price is stalling on around the support levels and 4420 might even still hold on the 4H (if it does it will look good for breaking 4500).

Look on 4H and the pullback from the 21EMA so far.
  • #10,511
  • Aug 23, 2011 9:57am Aug 23, 2011 9:57am
AU and GU.

will add another GU if TDI turns.
dreams do come true.
  • #10,512
  • Aug 23, 2011 10:05am Aug 23, 2011 10:05am
as per this system rules. geeeeeeez, it feels risky! don't like the reloads of this system as sl as to be to big for my taste...
dreams do come true.
  • #10,513
  • Aug 23, 2011 10:07am Aug 23, 2011 10:07am
Quoting dean
There are many helpful, intelligent, generous contributors on this thread who give a lot of their time and knowledge in the pursuit of helping new people to this method. For you to pipe up and call it noise is pretty rude.
But they did not create this method and they have added many additional indicators and strategys that NOOBS do not need to initially bother themselves with. They can review all the noise afterwards as I stated. I agree that some of it, especially from you and a few others is not noise but I thought I would simplify it for the guy. If you are offended - sorry.
  • #10,514
  • Aug 23, 2011 10:45am Aug 23, 2011 10:45am
- 30 x 2.

all part of day's work
dreams do come true.
  • #10,515
  • Aug 23, 2011 11:03am Aug 23, 2011 11:03am
Quoting ProreX
Hi,

I just wanted to introduce myself before posting.
I'm not new to forex. First forrex experience started with ponzi scheme I entered when friend of mine told me that FinanzasForex will make me 20-50% earnings every month. Finally, I was lucky to get what was mine, earnings left behind.

Than I decided to run Fx my self, and on demo I was successful, but live.... I don't want to speak about. It was because I was too afraid to lose some money in some trades, put tight SL, and all my trades were stopped by SL.

I found this trade by...

Try this one, It also has examples.
Attached File(s)
File Type: pdf TradinMadeSimple.pdf   1.4 MB | 1,425 downloads
Indicators always obey Price, not the other way.
  • #10,516
  • Aug 23, 2011 11:14am Aug 23, 2011 11:14am
Quoting tomthepoppop
But they did not create this method and they have added many additional indicators and strategys that NOOBS do not need to initially bother themselves with. They can review all the noise afterwards as I stated. I agree that some of it, especially from you and a few others is not noise but I thought I would simplify it for the guy. If you are offended - sorry.
I really agree with the "additional indicators" bit. Not needed. I followed the rules exactly this a.m. and got +66 pips with 4 trades and ranging from the 15M to 1H TFs. Read post #1 and the pdf. p
  • #10,517
  • Aug 23, 2011 11:24am Aug 23, 2011 11:24am
Thanks for this system, I had just finished the 1st 10 pages and the pdf (#10520) will be demoing this TMS method.

Thanks again for all the I'd learned so far.
  • #10,518
  • Aug 23, 2011 12:31pm Aug 23, 2011 12:31pm
My first deal gbpusd +35
Thank you!
http://images.vfl.ru/ii/1314119886/af2bd64a/81381_m.jpg
  • #10,519
  • Aug 23, 2011 12:38pm Aug 23, 2011 12:38pm
I often see posts on this and other threads that contain the phrases “I feel” or “I think.”

“Feeling” and “Thinking” can prove to be dangerous when approaching the market. The danger of this state, as we all know, is closing trades way too soon and/or reacting very haphazardly. I see many traders with the expression of “I got my 10 pips and got out,” (as an expression of relief) or “I think the E/U is turning over.” Often there is evidence referenced, such as support/resistance, weekly pivots, etc., which can justify taking action. However, most of the comments are simply from the gut with little or no evidence to support the action taken. If this describes you, this is a sign that you are still too emotionally invested in your trade or perhaps do not have faith in your trading plan.

Your trading plan should have defined entries, stops and profit targets – which can be adjusted for market conditions – not because of what you feel, but what you see; all this based on your back testing of your trading time frame and your rule set.

The way you approach the market should be the same for every trade, every pair – to have the same sequence of behaviors, analysis, and execution. One of the techniques that can be helpful is “self talk.” That is, saying aloud what you see, going though your checklist and rules and then answering the question “Is this a valid signal?” If the answer is yes, enter the market prepared to place stops and targets; if no, do nothing and wait for the next signal. You will begin to develop a routine. Speaking aloud and hearing your words will reinforce your observations.

This routine, if repeated consistently, will develop into an automatic response with minimal emotional investment resulting in more discipline and control. You will not be thinking or feeling. You will begin to objectively observe, analyze, express and consequently follow the directions (the rules) of your trading plan. You will find that your state will be less anxious, less fractured, and most importantly, less emotional. Your family may think you are crazy, but your profits will prove them wrong.
  • #10,520
  • Aug 23, 2011 12:51pm Aug 23, 2011 12:51pm
Quoting dcginc
I often see posts on this and other threads that contain the phrases “I feel” or “I think.”

[font=Calibri][size=3]“Feeling” and “Thinking” can prove to be dangerous when approaching the market. The danger of this state, as we all know, is closing trades way too soon and/or reacting very haphazardly. I see many traders with the expression of “I got my 10 pips and got out,” (as an expression of relief) or “I think the E/U is turning over.” Often there is evidence referenced, such as support/resistance, weekly...
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