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Trading Made Simple

  • #11,521
  • Edited 10:09am Sep 14, 2011 9:21am | Edited 10:09am
Yeah, I would get it. Published over ten years ago, but had fundemental trading advice we all need to know. Keep a copy right here.
I say we all just trade this method how we find it works best. 15m / 30m / hourly / 4hr / Daily ... or top down using all of the above. Look at Dcginc who is ripping up 15m / hourly / 4hr. I'm a simple guy and need to keep it very simple or I'll mess it all up. Worse thing I ever did was purchase a "full trading course" that taught me so much I crashed the plane!
  • #11,522
  • Sep 14, 2011 9:24am Sep 14, 2011 9:24am
Quoting FXSurf
Yeah, I would get it. Published over ten years ago, but had fundemental trading advice we all need to know. Keep a copy right here.
I say we all just trade this method how we find it works best. 15m / 30m / hourly / 4hr / Daily ... or top down using all of the above. Look at Dcginc who is ripping up 15m / hourly / 4hr. I'm a simple guy and need to keep it very simple or I'll mess it all up. Worse thing I ever did was purchase a "full trading course" that taught me so much crashed the plane!
Is a 20p SL & 40p TP a more or less default R:R ratio for you on the 1H. It sure would simplify things for me.
  • #11,523
  • Sep 14, 2011 9:31am Sep 14, 2011 9:31am
Quoting twenty155
Hi fufighter, here's the 3 winning trades I took on 4hr. All meet Big E criteria, one is a little risky due to being at the 32 area, but I made sure I exited early on that. BTW 4hr candle appears at 5am gmt. My exit strategy is pants and needs work.

1hr or 4hr, it really depends on the person and how they like to trade. I dont believe its possible to say what works for one person will work for everyone. I trade 30min (with 50 line cross on TDI) Lon/NY, and 4hr London exactly as BIG E suggests. Thats it. I love shorter time periods and have no...

please what is your bollinger band settings? is it default 20,2?
  • #11,524
  • Sep 14, 2011 9:38am Sep 14, 2011 9:38am
Quoting tic
pdf is available in this post
http://www.forexfactory.com/showthre...78#post4803778

regards
Thanks for the link, I've actually just ordered it off amazon. Easier on the eyes the ol' paper.
  • #11,525
  • Sep 14, 2011 9:42am Sep 14, 2011 9:42am
Quoting tulawal
please what is your bollinger band settings? is it default 20,2?

Bollinger band is standard: period=20 deviations = 2 shift = 0, apply to close.

I use it for a quick TP guide. Also if price has crossed the middle line and closed, then price will usually continue to the otherside.
  • #11,526
  • Sep 14, 2011 9:53am Sep 14, 2011 9:53am
Here is a perfect example of the only way I like trading 30min / 1hour trades.

BTW, i only just noticed this, so unfortunately I missed out on this trade. I just wanted to share it because these have a great success ratio.
Attached Image (click to enlarge)
Click to Enlarge Name: Sept 14th_GbyJpy_30min.jpg Size: 186 KB
  • #11,527
  • Sep 14, 2011 10:17am Sep 14, 2011 10:17am
Quoting piprac
Is a 20p SL & 40p TP a more or less default R:R ratio for you on the 1H. It sure would simplify things for me.
Hey Piprac, that 20p SL / 40p TP is typical of a smaller range trade. I seem to get a lot of em. This morning at 4am (EST) I took a trade on the EUR/USD where a 20p stop would have been too small. I try to do what's recommended in this thread (most recent High or/ Low) and use a S&R tool to help me quickly locate that. (found it on page 2 of Craigs Stochastic method) Each trade varries though. I've taken trades with 15p SL & 30p Limit as well as trades with 50p SL & 100p Limit. I won't go higher than that on an hourly trade.
  • #11,528
  • Sep 14, 2011 10:22am Sep 14, 2011 10:22am
Quoting twenty155
Bollinger band is standard: period=20 deviations = 2 shift = 0, apply to close.

I use it for a quick TP guide. Also if price has crossed the middle line and closed, then price will usually continue to the otherside.

thanks a lot
  • #11,529
  • Sep 14, 2011 11:04am Sep 14, 2011 11:04am
Quoting twenty155
Thanks FXSurf, a fair point. Thats why I will always trade my 30min/1hr BIG E method as well as the 4 hr. The best of both worlds.

I think its time I purchase Trading in the Zone, everyone and their grandma's seem to have read it.
When the student is ready, the teacher will appear!

I have it as an audio book from that Audible website, on an iPhone, 8 hours + 2 minutes, a great listen, you won't regret it, tough going but sinks in eventually
OPPORTUNITY IS NOWHERE
  • #11,530
  • Sep 14, 2011 11:13am Sep 14, 2011 11:13am
Quoting FXSurf
Hey Piprac, that 20p SL / 40p TP is typical of a smaller range trade. I seem to get a lot of em. This morning at 4am (EST) I took a trade on the EUR/USD where a 20p stop would have been too small. I try to do what's recommended in this thread (most recent High or/ Low) and use a S&R tool to help me quickly locate that. (found it on page 2 of Craigs Stochastic method) Each trade varries though. I've taken trades with 15p SL & 30p Limit as well as trades with 50p SL & 100p Limit. I won't go higher than that on an hourly trade.
OK, thanks for the reply. I use fractals for both but sometimes not too comfortable with the SL distance so then I use ATR7 or whatever gives me peace of mind (if I had one!)
  • #11,531
  • Sep 14, 2011 11:28am Sep 14, 2011 11:28am
Quoting dcginc
Traders . . .

Let me start by saying this post in no way is to get anyone off track. I just came across something in another thread that is extremely valuable and would like to share it with you.

In my previous posts, I have reference NLP its effect on the mindset of traders. I have also mentioned Todd Brown, the leading trainer and expert of trading psychology.
Thanks for this.

I have done several days of training in person with the founder of NLP Dr Richard Bandler a while back. It was some of the most practical, extraordinary and enlightening course work i have ever done and provided a significant benefit to my life on many levels.

I will watch these videos with great interest.
  • #11,532
  • Sep 14, 2011 12:01pm Sep 14, 2011 12:01pm
Just watched them. Good stuff. Repetitive Thought / Repetitive Action. Train the Brain. That's the key.
  • #11,533
  • Sep 14, 2011 12:10pm Sep 14, 2011 12:10pm
Quoting BobbyJ
Hey guys, as posted earlier I thought this was a good opportunity to go for a long trade:

http://img190.imageshack.us/img190/5246/87317939.jpg


Unfortunately it ended out like this:

http://img546.imageshack.us/img546/8528/40415412.jpg

What did I miss ? For me it seemed like a good trade but obviously it became a bounce and made me lose 15 pips until S/L.
Was there anything I oversaw what couldve given away that a bounce was likely to occur?
I replied to ur first post. i thought it was a long too at first wit -20 but later saw it was a bounce then i went for it. i took out +50 from it.
  • #11,534
  • Sep 14, 2011 1:12pm Sep 14, 2011 1:12pm
Bobbyj. Looks like you entered after the first candle. But this was not verified by the rules. Price did not close on the other side of the 5ma. You would of had to wait for the close on that second candle for it to be a trade as per Big E's rules.

Hope that helped! Otherwise you could of had an awesome bounce trade if you waited for that second candle
  • #11,535
  • Sep 14, 2011 1:18pm Sep 14, 2011 1:18pm
Heres a 30min BIG E trade that I took a couple of hours ago. This is the only trade I've taken since the 4 4hr trades this morning. TP was a little shy of the potential. Missing out on more pips at the moment but that's cool. +30 pips

Done for the day. Will watch those NLP videos now.
Attached Image (click to enlarge)
Click to Enlarge Name: Sept 14th_EurUsd_Long_30min.jpg Size: 205 KB
  • #11,536
  • Sep 14, 2011 1:19pm Sep 14, 2011 1:19pm
http://www.forexfactory.com/showthread.php?t=314326

I know this may seem highly irregular, but this information applies to all trading systems, TMS included.[/quote]


Needs 300 repitions to set.
i'm heading for the simulator.

thanks dcginc

wmhays
  • #11,537
  • Sep 14, 2011 2:15pm Sep 14, 2011 2:15pm
Quoting Dyekid217
Bobbyj. Looks like you entered after the first candle. But this was not verified by the rules. Price did not close on the other side of the 5ma. You would of had to wait for the close on that second candle for it to be a trade as per Big E's rules.

Hope that helped! Otherwise you could of had an awesome bounce trade if you waited for that second candle
And also take a look at divergence on TDI.
regards
  • #11,538
  • Sep 14, 2011 2:26pm Sep 14, 2011 2:26pm
Quoting Dyekid217
good for 45 pips =)

anyone getting into the euro based off the daily?

below is 4hr and daily
I would be VERY cautious on entering a long on the EU. Long term, she's definitely headed down. I'd say she's headed toward 1.2000 and maybe lower.
  • #11,539
  • Sep 14, 2011 3:41pm Sep 14, 2011 3:41pm
Had a tp of 30 so I wasn't looking for anything long term really. Considering it's a counter trend against the weekly bias
  • #11,540
  • Sep 14, 2011 5:01pm Sep 14, 2011 5:01pm
Quoting Dyekid217
Bobbyj. Looks like you entered after the first candle. But this was not verified by the rules. Price did not close on the other side of the 5ma. You would of had to wait for the close on that second candle for it to be a trade as per Big E's rules.

Hope that helped! Otherwise you could of had an awesome bounce trade if you waited for that second candle
I know there's conflicting ideas about the use of the 5ema, but I saw right off the bat on his chart that it hadn't closed across. Waiting for it to CLOSE across the 5ema is part of my entry criteria. Maybe it's conservative, but it has saved me many times from getting involved too soon.
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