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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

  • #11,241
  • Sep 8, 2011 5:28am Sep 8, 2011 5:28am
Is it me or is everything really slow today?
  • #11,242
  • Sep 8, 2011 5:33am Sep 8, 2011 5:33am
Quoting Wbm
Is it me or is everything really slow today?

With good reason. Check the news events for today. The next two hours has important releases!!
  • #11,243
  • Sep 8, 2011 5:34am Sep 8, 2011 5:34am
Quoting TraderDC
With good reason. Check the news events for today. The next two hours has important releases!!
I was hoping to get some pips in before then oh well.
  • #11,244
  • Sep 8, 2011 5:45am Sep 8, 2011 5:45am
So does anyone have a viable strategy for the daily TF with TDI and heiken ashi now?? I findit like almost a perfect chart to trade - not too long not too short either. and the gains ate big!
A trader must be humble - else the market would humble him.
  • #11,245
  • Sep 8, 2011 5:52am Sep 8, 2011 5:52am
Firstly im not trading this system I'm just checking things out, there seem to be some crossover from how I trade already but entry's and exites are as subjective as ever. anyway I post a chart of a recent trade.

my entry/exits are based on pa and s&r and some oscillators...nothing fancy.
I'm looking at the use of tdi atm hence the post.
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  • #11,246
  • Sep 8, 2011 5:54am Sep 8, 2011 5:54am
Hi every body, check my chart please, i have open a trade on bounce.
It does not work as expected.

What do you recommend?
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  • #11,247
  • Sep 8, 2011 6:13am Sep 8, 2011 6:13am
Quoting imperatorfr
Hi every body, check my chart please, i have open a trade on bounce.
It does not work as expected.

What do you recommend?
To me things that would've kept me out of that trade are that the bounce has happened below 50 combined with the already OS stochs ... although on my chart the bounce appears to have happened right on 50, but different brokers I guess ...

On the plus side, you're still with the recent trend, so, maybe there's no harm in letting it run ... but last time I said that to someone it was the wrong call so it's one you have to make yourself ... be very aware there is a bit of US and CAD news coming up later
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #11,248
  • Sep 8, 2011 6:13am Sep 8, 2011 6:13am
Working out nicely so far.
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Forex is boring but profitable with patience and discipline
  • #11,249
  • Edited 7:39am Sep 8, 2011 6:17am | Edited 7:39am
Quoting imperatorfr
Hi every body, check my chart please, i have open a trade on bounce.
It does not work as expected.

What do you recommend?
well your trading right into multiple bar lows so a suggested area of support and all that implies.... a break of .98250 would be needed b4 a continuation trade could be played imho

best of luck

EDIT: reversal looks likely atm
  • #11,250
  • Sep 8, 2011 7:46am Sep 8, 2011 7:46am
Quoting fufighter
what's wrong with today setup for 4H when London open? all the good set up are fault entry. Loss a lot of pips today
I can tell you what happened...... Easy really,


SH*T HAPPENED. Unfortunately that is the Forex market for you. Keep your stops tight and your account safe and move on to the next.

NEXT !!!!!!!!
Short Euro and remaining that way. That's just the way it is !
  • #11,251
  • Sep 8, 2011 7:50am Sep 8, 2011 7:50am
This was a nice setup for me, in line with the trend. Bit risky running up to news but tight 30pip stop. entered about 1hr 20 mins ago
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Short Euro and remaining that way. That's just the way it is !
  • #11,252
  • Sep 8, 2011 7:55am Sep 8, 2011 7:55am
Quoting NZ Chris
I can tell you what happened...... Easy really,


SH*T HAPPENED. Unfortunately that is the Forex market for you. Keep your stops tight and your account safe and move on to the next.

NEXT !!!!!!!!
  • #11,253
  • Sep 8, 2011 8:13am Sep 8, 2011 8:13am
opened 3 orders , hope it works.
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  • #11,254
  • Sep 8, 2011 8:55am Sep 8, 2011 8:55am
Did you close your CADUSD order fufighter? Mine is still open because it still looks like a good setup. I scalped a bit of the news event earlier with Trichet. Seems like the System worked well on the minute timeframe for the event.
  • #11,255
  • Sep 8, 2011 9:20am Sep 8, 2011 9:20am
Quoting cdt
Hi, I need advice from traders who are successfully using this system. If I want to set a standard SL & TP for the respective timeframe - H4, H1 & M15, what would be the best?

Thanks in advance.
It's been talk about over and over: the previous swing high or swing low depending on the direction of the trade. You can't have a one-size-fits-all for different TFs, they are individual.
  • #11,256
  • Sep 8, 2011 9:20am Sep 8, 2011 9:20am
Well, I have now spent somewhere between 40 and 50 hours reading this thread.

First, my sincere gratitude to Eelfranz for his time, persistence, and efforts he has put into the TMS system...

And for his patience and humor.

To be honest, I have no questions. It is time to backtest, and backtest, and backtest some more. And then do it again on a different currency pair.

So, again, first my thanks to Eelfranz. Your work is appreciated.

Now, on to the subject of my post. I need to politely "call out" dgcinc. But not in a bad way.

The reality is that I have quite a few questions for him. But, as a newbie, I have no PM or thread posting privileges. So, dgcinc, may I please ask you to start a thread where I (and I am sure many others) can ask you about some of your trading nuances. Believe me when I say that I have "stalked" every single one of your posts and now have more clarification questions about some of the things you have stated, implied, or even outright explained.

So, will you please start a thread and then reply to this one, so that I/we/others do not hijack this fine thread?

I appreciate it, and looking forward to it.

FFJ Eternal

P.S. I am an American in Iraq, and our time zones (and network consistency) will cause inevitable delays in my ability to reply quickly. I promise getting back to you will be a priority each day, as early as possible.
  • #11,257
  • Sep 8, 2011 9:33am Sep 8, 2011 9:33am
Quoting NZ Chris
This was a nice setup for me, in line with the trend. Bit risky running up to news but tight 30pip stop. entered about 1hr 20 mins ago
Closed for +40pips. Didn't break support and the lower TFs turned up against me
Short Euro and remaining that way. That's just the way it is !
  • #11,258
  • Sep 8, 2011 9:49am Sep 8, 2011 9:49am
Quoting FFJeternal
Well, I have now spent somewhere between 40 and 50 hours reading this thread.

First, my sincere gratitude to Eelfranz for his time, persistence, and efforts he has put into the TMS system...

And for his patience and humor.

To be honest, I have no questions. It is time to backtest, and backtest, and backtest some more. And then do it again on a different currency pair.

So, again, first my thanks to Eelfranz. Your work is appreciated.

Now, on to the subject of my post. I need to politely "call out" dgcinc....
Welcome, i've been searching a while myself and I only became profitable after I found this system. Eelfranz is a genius. You'll be a full member in no time just post a few helpful posts.
  • #11,259
  • Sep 8, 2011 9:54am Sep 8, 2011 9:54am
Quoting Purger
Welcome, i've been searching a while myself and I only became profitable after I found this system. Eelfranz is a genius. You'll be a full member in no time just post a few helpful posts.
Truly appreciate the welcome, Purger. I have been looking at charts for months (actually almost 15 months), and TMS charts for about 1 week now. I like what I see.

Thanks again.
  • #11,260
  • Sep 8, 2011 10:11am Sep 8, 2011 10:11am
Quoting cdt
Hi, I need advice from traders who are successfully using this system. If I want to set a standard SL & TP for the respective timeframe - H4, H1 & M15, what would be the best?

Thanks in advance.
Piprac is right. The best place for a stop is just beyond recent High/Low. This keeps you in line with the current volitility. You can figure TP from that number as well. Could be the same, or twice SL for 1:2 Risk to Reward.
But to answer your question specifically...you could look back over a month or two at each pair/timeframe you intend to trade and arrive at some kind of "average" that could be plugged into every trade. But really, it varies. On the Hourly it could be 15 or 50 pips! Personally, I like the idea of a stop (and TP) that is tailored to each entry.
Best of Luck!
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