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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #11,021
  • Sep 4, 2011 6:49pm Sep 4, 2011 6:49pm
Quoting Loooit
Hi all,

Entered daily on below chart after diagonal support has turned to diagonal resistance in very long term down trend(solid red line)

Cross on TDI, with the trend and good resistance.

Trade is locked in.

Anyone else see this?
Sorry when I say long I say since April...
Ask me again when I know what I'm talking about.
  • #11,022
  • Sep 4, 2011 7:23pm Sep 4, 2011 7:23pm
Quoting Loooit
Hi all,

Entered daily on below chart after diagonal support has turned to diagonal resistance in very long term down trend(solid red line)

Cross on TDI, with the trend and good resistance.

Trade is locked in.

Anyone else see this?
Yup, short on both AUDJPY and AUDUSD.
Attached Image (click to enlarge)
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  • #11,023
  • Sep 4, 2011 7:34pm Sep 4, 2011 7:34pm
Quoting FX-Trader
Found this on another site and thought it would be helpful...

The 5 Stages of a Trader

Stage One: Unconscious Incompetence.

This is the first step you take when starting to look into trading. You know that it’s a good way of making money because you’ve heard so many things about it and heard of so many millionaires. Unfortunately, just like when you first desire to drive a car you think it will be easy – after all, how hard can it be? Price either moves up or down – what’s the big secret to that then – let’s get...
I thought i would finally come out of the darkness. Thanks to all who have been posting, I've been following this thread for a few months now with varied success both with demo and live accounts. Thankfully haven't managed to blow either account yet. Slowly moving into Stage 3/4, thought i would recommend the Disciplined Trader, great book for trading psychology.
  • #11,024
  • Sep 4, 2011 10:13pm Sep 4, 2011 10:13pm
This is my first post, I subscribed a short time ago and have been doing my best to read and take it all in. Eelfranz, I would like to thank you for the generous sharing of your knowledge. I will also thank those traders willing to share, teach and direct us new, used and occasionally stump like fx traders. As for me I am retired, doing some volunteer work where I see a need (seems to keep me busier than when I was actually being paid to work.... should it be like that??) and also working on some extra income. I am not totally new to fx but admittedly have spent / wasted more time and money than I would care to say (embarrassing really).

Greetings from Texas and good trading to all. James
  • #11,025
  • Sep 5, 2011 12:03am Sep 5, 2011 12:03am
Quoting dean
Please explain your fractal break trading??? exactly what do you mean?
Hi Dean,

Pretty straightforward as far as set up is concerned. This is only meant as an addition to the TMS approach and can help on entering longer trend runs after the initial move (especially if you missed it!) and can help with entries when the Stochastics are moving toward OB/OS areas.

Add the Bill Williams Fractals.

On Day chart and the H4 look at any of the confirmed trends that have confirmed after the TDI cross - this means APB / HA plus PA )usual rules for trends).

Most of the trend runs will take a breather and this will set up a Fractal - check on the Fractal rules as they will re-paint until 2 candles after the Fractal, then they are set in stone.

The Fractal Break may take several candles to occur (my definition of several can be up to 10, especially if the pair is ranging) - I have not tested this below H4 and Day charts. I only use H1 and lower to confirm PA.

Set an entry point at the H/L Fractal (I usually set the entry point +/- 10 on the H/L Fractal - also watch for BRN and S/R, so no change there with regards to entry points!). Options here are to put this on a Watch List and enter manually when the PA moves past the Fractal, or, set it as a pending trade as a Sell Stop, or Buy Stop.

Typically a Fractal Break will coincide with a TDI bounce or a follow on cross.

This will start to look like steps / legs / waves (this is not using Fibs, Elliot Waves, etc.). When the trend has broken for the second / third time start looking at lower TP and watch for reversal patterns / TDI pull back.

TP and SL per your trading plan.


In many cases the Fractal will not be broken and a new TDI cross will occur signalling a trend reverse. If the trend is reversed and confirmed, cancel any pending orders, or, if a new fractal is set - reset your entry point accordingly.

Not sure how this stacks up against the Bill Williams systems - never read up on them - as usual, run your own back tests ans live testing before adopting.

Hope this helps.
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"To live with Passion, it takes Courage and Grace to survive"
  • #11,026
  • Sep 5, 2011 12:49am Sep 5, 2011 12:49am
Welcome James, Remember rule number one 'Protect your capital'

Good luck and Cheers!

Quoting 1jamesw1
[color=black][font=Verdana]This is my first post, I subscribed a short time ago and have been doing my best to read and take it all in. Eelfranz, I would like to thank you for the generous sharing of your knowledge. I will also thank those traders willing to share, teach and direct us new, used and occasionally stump like fx traders. As for me I am retired, doing some volunteer work where I see a need (seems to keep me busier than when I was actually being paid to work.... should it be like that??) and also working on some extra income. I am not...
  • #11,027
  • Sep 5, 2011 1:41am Sep 5, 2011 1:41am
Every day I see PA becoming my true friend.
  • #11,028
  • Sep 5, 2011 2:18am Sep 5, 2011 2:18am
Quoting Britpip7
Hi Dean,

Pretty straightforward as far as set up is concerned. This is only meant as an addition to the TMS approach and can help on entering longer trend runs after the initial move (especially if you missed it!) and can help with entries when the Stochastics are moving toward OB/OS areas.

Add the Bill Williams Fractals.

On Day chart and the H4 look at any of the confirmed trends that have confirmed after the TDI cross - this means APB / HA plus PA )usual rules for trends).
Blimey....... This thread is going to have to be renamed "Trading Made Simple being made Alot More Complicated"



just joshing with you.
Short Euro and remaining that way. That's just the way it is !
  • #11,029
  • Sep 5, 2011 2:34am Sep 5, 2011 2:34am
Quoting makentakepip
I thought i would finally come out of the darkness. Thanks to all who have been posting, I've been following this thread for a few months now with varied success both with demo and live accounts. Thankfully haven't managed to blow either account yet. Slowly moving into Stage 3/4, thought i would recommend the Disciplined Trader, great book for trading psychology.
Great book, as is Trading In The Zone also by Mark Douglas...
  • #11,030
  • Sep 5, 2011 2:43am Sep 5, 2011 2:43am
Quoting mogulmedia
Great book, as is Trading In The Zone also by Mark Douglas...
I agree. I think after reading this a few times, I just started to become a trader.
  • #11,031
  • Sep 5, 2011 3:38am Sep 5, 2011 3:38am
hello traders
what is your opinion about US bank holiday effect on today's trades?
  • #11,032
  • Sep 5, 2011 3:59am Sep 5, 2011 3:59am
Quoting buyorsell
hello traders
what is your opinion about US bank holiday effect on today's trades?
lower trading volume = less volatile markets
The Mind creates reality.
  • #11,033
  • Sep 5, 2011 4:30am Sep 5, 2011 4:30am
Quoting buyorsell
hello traders
what is your opinion about US bank holiday effect on today's trades?
As far as I remember, Big E doesn't trade during US holidays...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,034
  • Sep 5, 2011 5:21am Sep 5, 2011 5:21am
Hello guy, new member here , want to thanks big E for this thead im learning at the moment.

fufighter,
  • #11,035
  • Sep 5, 2011 5:29am Sep 5, 2011 5:29am
Quoting Fitness09
I agree. I think after reading this a few times, I just started to become a trader.
Me too! Those book are gold but I found them quite taxing on the brain!
  • #11,036
  • Sep 5, 2011 5:42am Sep 5, 2011 5:42am
Quoting DayTraderBiH
lower trading volume = less volatile markets
thanks
  • #11,037
  • Sep 5, 2011 5:43am Sep 5, 2011 5:43am
Quoting Favorite
As far as I remember, Big E doesn't trade during US holidays...
thank you
  • #11,038
  • Sep 5, 2011 5:43am Sep 5, 2011 5:43am
I have question to ask.

- 2 minute before this new candle appear i see no trade set up
- Then the second the new candle appear it show a really nice bounce ( TDI green go up a lot like 45 degree from flat position so i took the trade "buy"

- Now when i check back TDI is not bounce anymore, instead it almost come down to cross the red line


when i decide the tread set up, should i do it before the new candle appear or do it at the second the new candle appear? because i do the latter and TDI seem to change its position later on. If you look at my charge right now it'll show u as a "bad entry" but really, at the time i took the tread TDI really show a nice bounce up. What should i do, please help ><

PS. Im aware of TDI> 68 and sto > 80 position. Just want to ask you the question above.

fufighter,
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  • #11,039
  • Sep 5, 2011 6:45am Sep 5, 2011 6:45am
Quoting fufighter
Now when i check back TDI is not bounce anymore, instead it almost come down to cross the red line
that is the magic question. theres no sure fire way of telling whats going to happen next.

this is where reading PA and expirience comes in to it.
  • #11,040
  • Sep 5, 2011 7:01am Sep 5, 2011 7:01am
Quoting 33drifter
that is the magic question. theres no sure fire way of telling whats going to happen next.

this is where reading PA and expirience comes in to it.
!!!!! ><

So, what about you? you find the set up few minute before the new candle appear? or wait till the second the new candle appear then see if there are any set up?

Thanks 33drifter,
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