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Trading Made Simple

  • #10,661
  • Aug 26, 2011 7:42am Aug 26, 2011 7:42am
Hey everybody,

I'm trading a new strategy on a 5min chart and have the following problem:

I'm using the TDI indicator as a signal for my entries and exits, so I have to be able to rely on that one. Now if I swith from the 5min Chart to a 30min Chart and back, the indicator changes and gives me another pattern as before. Below you see two screenshot that will show what I mean:

Attached Image (click to enlarge)
Click to Enlarge Name: bend1.jpg Size: 168 KB


Attached Image (click to enlarge)
Click to Enlarge Name: bend2.jpg Size: 168 KB


Did anyone here have the same problem or knows about that issue?

Regards
  • #10,662
  • Aug 26, 2011 9:19am Aug 26, 2011 9:19am
Got outta the AudCad a few minutes ago with +80 at heavy resistance. About the only trade this dismal week that turned out.

Try again on monday.
  • #10,663
  • Aug 26, 2011 9:46am Aug 26, 2011 9:46am
(have a EJ running on another).
dreams do come true.
  • #10,664
  • Aug 26, 2011 9:48am Aug 26, 2011 9:48am
Quoting einmarco27
Hey everybody,

I'm trading a new strategy on a 5min chart and have the following problem:

I'm using the TDI indicator as a signal for my entries and exits, so I have to be able to rely on that one. Now if I swith from the 5min Chart to a 30min Chart and back, the indicator changes and gives me another pattern as before. Below you see two screenshot that will show what I mean:

Attachment

Attachment

Did anyone here have the same problem or knows about that issue?

Regards
check back through the thread towards the beginning pages and you'll see that there were some issues about whether or not refreshing the TDI is correct or not, and Big E replied that he chooses not to refresh his charts (if anyone doesn't know, MT4 refreshes every time you switch time frames).
I also noticed that those screens of yours were 10 seconds apart and that price had moved a bit, justifying why the TDI should look different. That reminded me of when i first found this indicator. I used it on a 5min chart and quickly learned that especially during volitile times of day i couldnt trust the signals because the TDI wasnt fast enough at adapting to the quick and seemingly extreme movements. This, at least in substance, is why most of the traders on this forum don't take signals for anything lower than the m15 chart.
Not trying to tell you how to trade, and a system is a system, but i found that the TDI is a little slow on those fast moving time frames.
Just my 200 pips worth...
  • #10,665
  • Aug 26, 2011 9:55am Aug 26, 2011 9:55am


Quoting wannaberich
(have a EJ running on another).
dreams do come true.
  • #10,666
  • Aug 26, 2011 10:34am Aug 26, 2011 10:34am
Quoting Loooit
Well...

I see where you are coming from.

The 1H and 4H are not agreeing.

Every time I look there seem to be more rules.

Weird things tend to happen on Fridays as you said.

I seem to be able always find a reason to enter. But then at other times reasons not to enter. sometimes even on the same chart...

Trying to stick to the basics of this method, maybe this week was not the best for it...

Checking different timeframes is not part of this system, that was added by some frequently posters but It is not a rule from the author.
Indicators always obey Price, not the other way.
  • #10,667
  • Aug 26, 2011 12:58pm Aug 26, 2011 12:58pm
Has anyone traded this system on a 1-Week or 1 Month time frame and if so how were your results?
  • #10,668
  • Aug 26, 2011 5:10pm Aug 26, 2011 5:10pm
Quoting maxtrader
Checking different timeframes is not part of this system, that was added by some frequently posters but It is not a rule from the author.
Oh ok.

I thought it came in with checking support resistance etc... But I will go check.

General question. How did people go this week? Any good signals that turned badly against us? For basic TMS method?

Post and we can discuss.
Ask me again when I know what I'm talking about.
  • #10,669
  • Aug 26, 2011 6:12pm Aug 26, 2011 6:12pm
Quoting Loooit
Oh ok.

I thought it came in with checking support resistance etc... But I will go check.

General question. How did people go this week? Any good signals that turned badly against us? For basic TMS method?

Post and we can discuss.
These days have been a mess, I am sure that many people followed the rules and loss money, the thing is that almost all people only show trades where they won, if you check carefully very few show their loosing trades, and I am sure that there are many, but this is normal among popular topics in forex forums, this system is good, but as many other systems It is very discretional depending on the traders psychology.
Indicators always obey Price, not the other way.
  • #10,670
  • Aug 26, 2011 6:48pm Aug 26, 2011 6:48pm
Quoting atisbg
Dear All, I am highly impressed with this system & I believe it .I am novice. But whenever I am doing trade with this ,I find myself on LATE entries & cannot make pips but suffer loss. I dont understand where I am going wrong...If somebody just post rules again more clearly I will appreciate....happy pippin..
the difficult we do immediately; the impossible takes a little longer

so hang in there, meanwhile, read the whole thread
It takes a lot for me to IGNORE you, but you can try.
  • #10,671
  • Aug 26, 2011 7:01pm Aug 26, 2011 7:01pm
Quoting eelfranz
Remember -

STUDY OLD CHART SET UPS SO THEIR EASY TO RECOGNIZE.

Follow the rules.

Trade at the right time of day.
[FONT=Comic...
Sure, great advice, but I would expect more support from someone with 10+ Vouches, where is the report from weeks ago when you boldly stated you were going to take a trade and stay in there? Never happened; am I the only one not impressed with this so VAGUE trading method?

Really, let's take a vote: How many follow this thread purely for entertainment value, and watching all newbies kissing ASS bigtime, but really you are working on other systems in the background?

Or, hands up all who really think this is the Holy Grail system, does it give you clear entry, exit, risk reward, all things of a great method?

Why can't Big E post even 1 picture like this - or tell me the post # so we can check it out if he has? I may have missed it, and I have read the whole thread
Attached Image (click to enlarge)
Click to Enlarge Name: chf_trades.jpg Size: 166 KB
It takes a lot for me to IGNORE you, but you can try.
  • #10,672
  • Aug 26, 2011 7:15pm Aug 26, 2011 7:15pm
Quoting antantnz
I doubt most of them bother to go back to June 2007 ....
as retail traders and relatively short term traders we dont look that far back but i can guarentee you the big player dumping hundreds of millions per trade do.
  • #10,673
  • Aug 26, 2011 7:23pm Aug 26, 2011 7:23pm
Quoting maxtrader
These days have been a mess, I am sure that many people followed the rules and loss money.
agreed, the last 2 weeks have been horrible for this method. i only took one trade this week and got stopped out.

it was a 3rd candle entry because i was waiting to break the resistance to the left. almost immediately after i entered it turned down 70 pips in about 10 mins, knocked me out, then spent the next 2 days going the right way.

disapointing, but part of the game.
Attached Image (click to enlarge)
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  • #10,674
  • Aug 26, 2011 9:00pm Aug 26, 2011 9:00pm
I made pips this week trading the 4hr at 1am and 5am EST and closing the positions at 8am (before news) Then trading the hourly at 9am, 10am, & 11am and closing any of those open positions at noon. Only traded Mon, Tues, Wed and captured +140 live pips. What the heck. I'll be back next week dudes.
  • #10,675
  • Aug 26, 2011 9:18pm Aug 26, 2011 9:18pm
Has anyone ever traded with Hot Forex, and if so, are they reputable? My current broker only offers 50:1 and Hot Forex offers 500:1 for U.S. Traders. Thanks

F09
  • #10,676
  • Aug 26, 2011 9:52pm Aug 26, 2011 9:52pm
It seems that you have not followed this thread very much or you would be aware of the fact that Big E has been very sick for the last few months, and has only posted a couple times in that time.

Quoting Erebus
Sure, great advice, but I would expect more support from someone with 10+ Vouches, where is the report from weeks ago when you boldly stated you were going to take a trade and stay in there? Never happened; am I the only one not impressed with this so VAGUE trading method?

Really, let's take a vote: How many follow this thread purely for entertainment value, and watching all newbies kissing ASS bigtime, but really you are working on other systems in the background?

Or, hands up all who really think this is the Holy Grail system, does it give you...
Read the entire thread BEFORE you ask questions!
  • #10,677
  • Edited 12:19am Aug 27, 2011 12:15am | Edited 12:19am
Quoting Erebus
Damn, that's too scientific for me, I just use a robot named GEM
I believe that people move in and out of predictable patterns. Apparently your home-base pattern is being ridiculous....this is evident through analysis of past behavior. you made this same post in Bread and butter trades thread, then this one above in this thread, now again with a "new holy grail" robot that made a whopping(!!wow!!) 5 profitable trades, and all in threads who could give a flying f#ck about yours or any other robot....what is the point?

Do you want us to ask what this wonderous modern marvel of technology is called? Where we can all get it so that we too can make a cherry-picked magical 5 winning trades of demo dollars, then we too can go off into random threads and post cryptic screen shots exclaiming success?!?!?!?!? Well, I AM IN!!!! Pour me a glass of that kool-aid too, Mr. Jones!!!! Make mine Cherry picked-cyanide flavored, and the rest of you guys saddle up, too....and bring some friends everybody!!! Ol' 'rebus is here to pick on a good hearted sick guy and get us all rich on our demo accounts!!! Who wouldnt wanna sign up with you, chief?

Who said on this thread that the system is a holy grail of any kind? If "Gem" kept you from being a"total idiot" (read his posts, seriously) then why did you look elsewhere in the first place.....shouldnt you be off somewhere in monte carlo looking out of the window of your 10 story solid gold mansion counting your platinum covered yachts while sitting on your huge shaquille o'neil sized bed stuffed with money trying to look past your sixteen super-model girlfriends? Cuz, thats what i would be doing if I wasn't a total idiot..

Good luck with your robots, other systems, inflammatory posts, picking on sick guys, and kicking little crippled kids out of wheelchairs, and all activities brought on by your amazing penchant for douchebagery. You ALMOST made me want to post my live account screen, but the I realized, NO ONE GIVES A SH!T WHAT YOU THINK.
  • #10,678
  • Aug 27, 2011 3:05am Aug 27, 2011 3:05am
Quoting maxtrader
These days have been a mess, I am sure that many people followed the rules and loss money, the thing is that almost all people only show trades where they won, if you check carefully very few show their loosing trades, and I am sure that there are many, but this is normal among popular topics in forex forums, this system is good, but as many other systems It is very discretional depending on the traders psychology.
Sadly I have only been trading this strategy for the last few weeks.

first time with method + Bad weeks = not feeing too good...

But enough people seem to be successful so Im happy to wait it out.

For every entry I post I post the exit as well, Would be cool if everyone did that, even if its a loss.

That way we can learn from each others wins and losses and not just our own losses(as people only post winning trades).

Hoping for better days.
Ask me again when I know what I'm talking about.
  • #10,679
  • Aug 27, 2011 6:03am Aug 27, 2011 6:03am
With last week being so challenging I'm going over the last week with a fine tooth comb looking at my entries and my exits, and also what happened in between ... I've come across a very interesting number ...

Last week I placed 38 trades (I'm the first to admit to overtrading). I've analysed where those trades went before / after I exited.

Of those entries :

  1. 27 (71%) had the potential to be profitable
  2. 11 (29%) had no hope of being profitable


However, of those exits :

  1. 18 (47%) exited with a gain
  2. 20 (53%) exited with a loss


In other words, a 71% successful entry strategy but only a 47% successful exit strategy. This is the difference between making it in this business and not. For the record, yes, absolutely I did go backwards last week.

The only reason I have gained 9 more losers than I should've is early exits. This is fairly evenly split between :

  1. SL's being too tight (I'm definitely going back to 2x ATR(7) )
  2. manual interference - closing trades early because I think they're going to be losers - but they then turn around to be winners ( from now on, manual interference is a last resort).


The numbers are powerful to me because instead of feeling like I've been $%$ing it all up, I can at least see that I'm getting part of the equation right, even in what have been very tough weeks.

If you have the time / inclination to analyse to try and find out what is going wrong, I definitely recommend it.

Fixing the exiting issues should be easy ... now to figuring out how to increase the winning entry percentage!

(N.b. I'm not claiming that 71% of entries would have led to full TPs, just that with my trade management, they would've given me a positive outcome).

1 pip at a time ... if the entries are strong, the rest will follow ...
  • #10,680
  • Aug 27, 2011 7:48am Aug 27, 2011 7:48am
Quoting antantnz
With last week being so challenging I'm going over the last week with a fine tooth comb looking at my entries and my exits, and also what happened in between ... I've come across a very interesting number ...

Last week I placed 38 trades (I'm the first to admit to overtrading). I've analysed where those trades went before / after I exited.

Of those entries :

  1. 27 (71%) had the potential to be profitable
  2. 11 (29%) had no hope of being profitable


However, of those exits :[list][*]18 (47%) exited with a gain[*]20 (53%) exited...

Thanks for this valuable feedback. I've also noticed that this week was rather choppy and even if the strategy didn't work for the week or a month, it doesn't mean it is a bad strategy but rather that there is no perfect 'holy grail' strategy. As long as it gives you an edge and helps you refine your entries/exits, then it serves the purpose.

BTW, can I ask which currencies you traded last week and whether you did exactly as noted by Big E (the 4H setup in the Asian/London session and 1H setup for the first hours of the US session?
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