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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #10,941
  • Sep 2, 2011 3:16am Sep 2, 2011 3:16am
Quoting DaveUK
Yes, this week has been difficult. I imagine a lot of retail traders have lost money this week. Sometimes you need to get away from the charts for a bit. I think everyone does really. Have a great time.



Not sure what a chicken's got to do with anything, but there he is anyway.
Yeah I agree...I am looking forward to no charts for a while...brain is frazzled this week..and yep I lost money.
Thnaks for the well wishes....to you to Lemo....have a good weekend guys.
  • #10,942
  • Sep 2, 2011 3:24am Sep 2, 2011 3:24am
ZzZzZzZzZ I sold the E/U at 1.4228 and it went down to 1.4209. Nice reversal on the 15 min chart made me get out with only +4 pips at 1.4224. Now its ranging. Going to sleep.
  • #10,943
  • Sep 2, 2011 4:23am Sep 2, 2011 4:23am
Great day today and yesterday with pips piling in at about +600 with GBPCHF and EURCHF..don't we just love seeing the signals on TMS?! I should consider quitting my JOB!!!
A trader must be humble - else the market would humble him.
  • #10,944
  • Sep 2, 2011 4:47am Sep 2, 2011 4:47am
Quoting Hedayat SM
Great day today and yesterday with pips piling in at about +600 with GBPCHF and EURCHF..don't we just love seeing the signals on TMS?! I should consider quitting my JOB!!!
Out of curiosity - those of you that are trading D1, what stops are you using? 2xATR?

Also what % risk does that equate to on your capital?

Thanks
  • #10,945
  • Sep 2, 2011 6:37am Sep 2, 2011 6:37am
Quoting mogulmedia
Out of curiosity - those of you that are trading D1, what stops are you using? 2xATR?

Also what % risk does that equate to on your capital?

Thanks
i use 10 pips behind the last swing as per original rules, im not sold on the 2XATR yet.

i risk 2-3% per trade, i try not to trade more than 2 positions at a time.
  • #10,946
  • Sep 2, 2011 6:46am Sep 2, 2011 6:46am
This is a follow-up to my first post, #10938. I did not check my charts at all last night, and here is what I found when I got up at 6:50 am. The EURCHF trade was up 453 pips, EURUSD was up 105 pips, EURGBP was up 27 pips, and GBPUSD was stopped out overnight for a profit of 91 pips. These are all short trades.

I certainly do NOT expect these kinds of results every day. However, the trading systems I've tried up to this point would be doing good to give this many pips in two months, and if they did, you'd be working MUCH harder than you do with this system.

I'm still demo trading this system (It is, after all, only my second day). I'm sure it will be much harder to let trades like this run with real money on the table.

I've got a lot to do, as we are getting ready to go out of town for a week. I've tightened my stops and will let the trades run. I will be closing them out later today.
  • #10,947
  • Sep 2, 2011 7:03am Sep 2, 2011 7:03am
dean
Quote
This is something I have trouble with. Can you explain why you wouldnt just consistently trade the 15 minute chart...Why trade the longer time frame when you can get in on the signal earlier on the 15 minute?? I mean the signal on the longer time frame generates itself from the 15 or lower anyway so why not get in early?? I really struggle with this concept so I am looking for a clear explanation as to the benefits and difference between trading the higher and lower time frames.

I trade the smaller time frames to pay bills – similar to the “time for dollars” concept of a regular job. I trade the higher time frames to build wealth – similar to a longer term investment – such as an annuity or 401K. I trade them in separate accounts so that I can trade the smaller time frames against the longer term trends if necessary – i.e. a bounce or retrace after an impulse. The other reason for separate accounts is margin. Longer term trades may require significant draw downs and my day trading scalping account margin won’t be affected.

Having these two strategies allows me to stay focused on the day trading price action while only having to periodically check my swing trades. I use the same set ups and signal requirements for both strategies. It's a way to diversify and think both short term and long term.

sbnelson2005[quote]How many Pips per month are you happy with[/QUOTE]

I agree with dean. Consistency is the key. I am "happy" with a net profit of any kind, but I strive on a daily basis to follow my trade plan because I know my system is profitable. So - I don't measure my contentment with pips per se, because I expect to make them. I measure my success overall by whether or not I followed my plan. If I do, I know the money will be there.
  • #10,948
  • Sep 2, 2011 7:11am Sep 2, 2011 7:11am
Quoting dcginc
dean

I trade the smaller time frames to pay bills – similar to the “time for dollars” concept of a regular job. I trade the higher time frames to build wealth – similar to a longer term investment – such as an annuity or 401K. I trade them in separate accounts so that I can trade the smaller time frames against the longer term trends if necessary – i.e. a bounce or retrace after an impulse. The other reason for separate accounts is margin. Longer term trades may require significant draw downs and my day trading scalping...
Quote
[/QUOTE]
Quote

I agree with dean. Consistency is the key. I am happy with a net profit of any kind. I strive on a daily basis to follow my trade plan because I know my system is profitable. So - I don't measure my contentment with pips, because I expect to make them. I measure my success overall by whether or not I followed my plan. If I do, I know the money will be there.

Now thats food for thought!
  • #10,949
  • Sep 2, 2011 7:51am Sep 2, 2011 7:51am
Quoting dean
This is something I have trouble with. Can you explain why you wouldnt just consistently trade the 15 minute chart...Why trade the longer time frame when you can get in on the signal earlier on the 15 minute?? I mean the signal on the longer time frame generates itself from the 15 or lower anyway so why not get in early?? I really struggle with this concept so I am looking for a clear explanation as to the benefits and difference between trading the higher and lower time frames.
Interesting question. On another forum there is a thread called "EMA Step System" or something like that; the author uses the 30M, 15M, & 5M TFs. After entering on the 5M & it goes in the right direction, he moves up to the 15M, adjusts TP &SL and waits. If it continues on the 15M he goes to the 30M and again adjusts.
At the time I just didn't have the time to follow it and I feel the TMS, which can be traded on any TF, is superior to anything I have ever followed.
My two and a half cents worth - p
  • #10,950
  • Edited 9:46am Sep 2, 2011 8:13am | Edited 9:46am
Good morning everyone. I posted a chart yesterday and today I got the results. On the EU Daily I had a late entry yesterday but the UCHF Daily I made 200 pips on. I do want to ask however would the first yellow vertical line be the entry Eelfranz was speaking of? I entered on the second but I just want to clarify the entry. Thank you very much.

P.s Eelfranz this method is incredible.....even the trades I didn't take went the way I marked them on my charts. This is by far the best method I've ever traded and this method will be the method I use from now on. Thank you again..eelfranz and group
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  • #10,951
  • Sep 2, 2011 8:14am Sep 2, 2011 8:14am
Does anyone know whether the japanese candle body and the heiken ashi candle body should be considered as a whole? i.e. half the candle can be japanese and half heiken ashi, to amount to a body big enough for entry.
  • #10,952
  • Sep 2, 2011 8:37am Sep 2, 2011 8:37am
Quoting piprac
Interesting question. On another forum there is a thread called "EMA Step System" or something like that; the author uses the 30M, 15M, & 5M TFs. After entering on the 5M & it goes in the right direction, he moves up to the 15M, adjusts TP &SL and waits. If it continues on the 15M he goes to the 30M and again adjusts.
At the time I just didn't have the time to follow it and I feel the TMS, which can be traded on any TF, is superior to anything I have ever followed.
My two and a half cents worth - p
Isn't it just a simple case of the higher the timeframe, the longer period the signal will be generated for. Id say H1 and H4 signals typically last 1-3 days, D1 maybe 3-14 days etc
  • #10,953
  • Sep 2, 2011 8:40am Sep 2, 2011 8:40am
Hello people of TMS

I found this thread 3days ago and read the first 100 pages and the last 50 pages. I think this system is awesome and one can be very profitable by it.

People should keep it simple like big E does and remember that TDI is king.
What Happen to Big E? Didn't see any of his posts for a very long time?

I would like some advice from the experienced traders:
I am thinking of taking up trading to make a living, would this be a good idea?

I'm currently on the demo and want to start with a mini account but wont I need a huge capital amount to trade the 4hour and the daily time frames?

Your replies would be appreciated
X-man the legendary conqueror of markets
  • #10,954
  • Sep 2, 2011 9:17am Sep 2, 2011 9:17am
Quoting X-Man
Hello people of TMS

I would like some advice from the experienced traders:
I am thinking of taking up trading to make a living, would this be a good idea?

I'm currently on the demo and want to start with a mini account but wont I need a huge capital amount to trade the 4hour and the daily time frames?

Your replies would be appreciated
Same here,

My dream is to be a full time trader. Set up an office where I can trade my own account with other traders doing their own work but together.

So we don't sit home alone lol...

Interested in hearing from full timers. Obviously will need to make money without full time first. But I guess if you trade daily its not too much work, Be employed in what you enjoy then... Thats the dream that gets sold.
Ask me again when I know what I'm talking about.
  • #10,955
  • Sep 2, 2011 9:17am Sep 2, 2011 9:17am
just closed uchf and gbpchf for 90 pips each

have a great weekend,
  • #10,956
  • Sep 2, 2011 9:18am Sep 2, 2011 9:18am
Quoting dean
Mate it has nothing to do with the amount of pips per day/month/year.....its about money in your account growing...set a dollar limit to what you want to make and the absolute critical factor is gaining CONSISTENT pips per week. You can make a fortune with 1 pip a day if you can do it every day. But if you can see yourself consistently making 800 per month and do it consistently you will make plenty.
Thanks Dean! I bailed this morning on my 3 Daily shorts EU, GU & UCHF shorts ahead of this mornings Non Farm and Unemployment Data. Cleared a total of 470 pips on the three trades and spent less than 10 minutes in total thinking about these 3.

I am doing an extensive backtest on all pairs and as long as you cherry pick it seems there are a ton of pips to be had every month with about 5 minutes work per day.

Thanks again Big E and all who contribute.
  • #10,957
  • Sep 2, 2011 9:29am Sep 2, 2011 9:29am
Quoting revkev6374
This is a follow-up to my first post, #10938. I did not check my charts at all last night, and here is what I found when I got up at 6:50 am. The EURCHF trade was up 453 pips, EURUSD was up 105 pips, EURGBP was up 27 pips, and GBPUSD was stopped out overnight for a profit of 91 pips. These are all short trades.
Great job! Keep posting your daily trades - I'm also posting mine.
  • #10,958
  • Sep 2, 2011 10:26am Sep 2, 2011 10:26am
Quoting dcginc
dean

I trade the smaller time frames to pay bills – similar to the “time for dollars” concept of a regular job. I trade the higher time frames to build wealth – .
dcginc, your posts are like this, pure art . . . THANKS A LOT
Attached Image
Humble & Kalcker CLO2 = Covid killer
  • #10,959
  • Sep 2, 2011 10:44am Sep 2, 2011 10:44am
dcginc

I have been doing the same thing, i use the TDI to enter my longer term swing trades and i also use the same startegy on shorter TF's to scalp with the trend.
I don't post here much now because i do not trade this strategy exactly, i have just taken the TDI and trade it differently.

Good Trading and good weekend all.


Quoting dcginc
dean

[font=Calibri][size=3]I trade the smaller time frames to pay bills – similar to the “time for dollars” concept of a regular job. I trade the higher time frames to build wealth – similar to a longer term investment – such as an annuity or 401K. I trade them in separate accounts so that I can trade the smaller time frames against the longer term trends if necessary – i.e. a bounce or retrace after an impulse. The other reason for separate accounts is margin. Longer term trades may require significant draw downs and my day trading scalping...
  • #10,960
  • Sep 2, 2011 11:02am Sep 2, 2011 11:02am
Just a quick post on this week's activities. Slower trading week but lots of entry possibilities on H4 and Day 9:30pm to 10:30pm PST

Most trades this week were cut short so smaller gains of 10 - 20 pips per trade with the exception of last night's set up on the day chart. TP1 set @ 1 X ATR for 170 pips which was hit. TP2 set to 3XATR which is still running - after NFP moved in a TS of 70, so currently 80 pips locked.

Good week - this is month 3 of live testing and using 0.1 lots per trade (which will be the amounts used once I go live), placing two trades on each entry set up with SL & TP targets set.

This approach is a hybrid of Big E and DCG Inc's strategies on swing trading and is working well. Now I have a new job, I can get up early enough to set trades to B/E, TS or close if needed before the US news hits.

As well as TDI crosses, also using Fractal Breaks on trend moves that have pulled back / rested, which usually coincide with a TDI bounce.

Thanks for all the contributions from our experts
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