Trading Made Simple | Page 588 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

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

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #11,741
  • Sep 21, 2011 2:34am Sep 21, 2011 2:34am
Quoting Callisto
last post 4 hours ago? Europe open, London open, GBP going down, TDI crossed, the news in an hour must be BAD, somebody knows already...

Disclaimer: Baised opinion because holding short from 1.62113


hmmm my tdi is not crossed yet on gbp/usd ? or sorry it have, but the watchdog indicator have not.


best regards
  • #11,742
  • Sep 21, 2011 2:46am Sep 21, 2011 2:46am
Hello guys,

I would like to ask you about some indicator for showing the resistance/support and pivot on H4 graph. I have some for daily pivot, resistances and supports, but together with H4 graph it doesn't really look good. Could you please recommend some other?

And of course, I would like to thank to eelfranz and all contributors. Wonderfull work here, I have learned a lot and lot more awaits for me
  • #11,743
  • Sep 21, 2011 2:46am Sep 21, 2011 2:46am
Quoting Callisto
last post 4 hours ago? Europe open, London open, GBP going down, TDI crossed, the news in an hour must be BAD, somebody knows already...

Disclaimer: Baised opinion because holding short from 1.62113
I confirmed my trade short on GBP with TMS chart. entered on false break up and confirmed on 15 min then 1 hr. Entered on down arrow. Took 1/2 off at +40, letting the rest run
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 1hr.gif Size: 19 KB
Short Euro and remaining that way. That's just the way it is !
  • #11,744
  • Sep 21, 2011 2:51am Sep 21, 2011 2:51am
Quoting Callisto
the news in an hour must be BAD, somebody knows already...
I wouldn't trade GBPUSD because of the news, but I think all other pairs are OK.

Quoting Callisto
last post 4 hours ago?
It doesn't mean nobody entered in 4 hours! People are busy trading, that's why they keep silent! I entered EURUSD 1hr 50 min. ago, got my TP 30 pips hit.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 187 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,745
  • Sep 21, 2011 3:02am Sep 21, 2011 3:02am
Quoting jgadefelth
hmmm my tdi is not crossed yet on gbp/usd ? or sorry it have, but the watchdog indicator have not.


best regards
On my GBPUSD H1 chart there was no TDI-cross, there was a "bounce"-signal. But I'm not very good with the "bounces", I decided I'd better not enter.

But I think Callisto meant H-4, not H1
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 189 KB
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,746
  • Sep 21, 2011 3:21am Sep 21, 2011 3:21am
Quoting Favorite
On my GBPUSD H1 chart there was no TDI-cross, there was a "bounce"-signal. But I'm not very good with the "bounces", I decided I'd better not enter.

But I think Callisto meant H-4, not H1

yes i say 1h but meant 4h is it a good trade to take ?


best regards
  • #11,747
  • Sep 21, 2011 3:31am Sep 21, 2011 3:31am
I 'know' it's not part of TMS but does anybody use / take notice of daily or weekly pivots as I know that buying or selling into them can have a negative effect generally and I wonder if this comes under the 'general fx knowledge' that you're supposed to use with this method?
  • #11,748
  • Sep 21, 2011 3:47am Sep 21, 2011 3:47am
Hello All,
This is more of an input or observation of mine. With the TMS Watchdog Indi and going with the Logic of BigE in finding the best trade oppertunities. I observed that the best trades come when the slopes are up for the Red and Green line after the cross of course and that they have to be abve the TDI line.
Request others to consider this and give their feedback on either this or the original TMS thread.
Regards.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #11,749
  • Sep 21, 2011 3:57am Sep 21, 2011 3:57am
Forex Trading is simple to understand and do so that making a profit is also easy. The basic concepts behind forex trading operations, choosing a forex broker, an outline of a basic forex strategy, the tools of the forex trade, and trading tips that will guarantee the success in the foreign exchange market.
  • #11,750
  • Sep 21, 2011 4:06am Sep 21, 2011 4:06am
Quoting pursuit
I think this can be summed up as: discretionary systems that lack mechanical rules for critical parts of the system (entry, exit) are difficult (impossible?) to teach.

If entry rule is: when A > B and A +C < D and... etc. then Enter Long.

There's no problem with teaching. Everyone with minimum level of intelligence will enter at almost exactly the same price. No psychology involved there. Let's be real.

If entry rule is: when A > B and C / D > 0.24 and I think euro is bullish and it looks good on larger time frames and the move is strong and...
Purely mechanical systems can never work in a dynamic market....hence the failure of robots. THerefore trading any other way than the use of a robot involves emotion and psychology...for entries and exits.
  • #11,751
  • Sep 21, 2011 4:18am Sep 21, 2011 4:18am
Hi Favorite,

How do you make Hekini Ashi Candles on a separate indicator window? I need them to be in a seperate window to have a clearer view. Thanks !!

Quoting Favorite
On my GBPUSD H1 chart there was no TDI-cross, there was a "bounce"-signal. But I'm not very good with the "bounces", I decided I'd better not enter.

But I think Callisto meant H-4, not H1
Pips Collector EA, No Martingale, No Grid
  • #11,752
  • Sep 21, 2011 4:31am Sep 21, 2011 4:31am
Quoting Favorite
I wouldn't trade GBPUSD because of the news, but I think all other pairs are OK.

It doesn't mean nobody entered in 4 hours! People are busy trading, that's why they keep silent! I entered EURUSD 1hr 50 min. ago, got my TP 30 pips hit.
Sorry if you have answered this before but how does one put "normal" candlesticks, such as you show, on the same TMS chart? Thanks, p
  • #11,753
  • Sep 21, 2011 4:51am Sep 21, 2011 4:51am
Quoting dean
Purely mechanical systems can never work in a dynamic market....hence the failure of robots. THerefore trading any other way than the use of a robot involves emotion and psychology...for entries and exits.
Almost agree with that, Dean, but how would you define a situation where the trade entry was recognized by a combination of mechanical signal and human decision made on whether or not to act on that signal, and then once entered, the trade is controlled by an EA, which exits either on trailing stop or take profit target, that is, no emotion there!

As we all know, once entered a trade, that is really when the emotions take over, fear of loss if it retraces, and greed to keep going ... see the chart I posted, and I think you asked about the entry, waiting since 1-Sept-11 for the robot to take me out, but GBP still going down.
OPPORTUNITY IS NOWHERE
  • #11,754
  • Sep 21, 2011 5:23am Sep 21, 2011 5:23am
Quoting Callisto
Almost agree with that, Dean, but how would you define a situation where the trade entry was recognized by a combination of mechanical signal and human decision made on whether or not to act on that signal, and then once entered, the trade is controlled by an EA, which exits either on trailing stop or take profit target, that is, no emotion there!

As we all know, once entered a trade, that is really when the emotions take over, fear of loss if it retraces, and greed to keep going ... see the chart I posted, and I think you...
Wasn't it you asking "does somebody know something I dont" about your trade?? ....there's emotion for you....even with a trailing ea. I am sure you can answer your own question here....you seem to trade this very succesfully.......I doubt very much you simply look at a couple of signals and enter......I would imagine you are a pretty clever guy and assess your trade very carefully.
This and other methods of unrobotic or human trading require emotion, intelligence and psychology.....yes it may require signals from indicators or candle formations or whatever.....but after we get our signal, we then have to assess the trade....its far from mechanical or robotic and the psychology involved in assessing things like SR and whatever else you use is what makes every trader different...some may enter, some may stay away and others may assess it exactly the opposite. Really the only truly mechanical systems out there are robots.....and they fail. Fear is also a factor prior to entry not just during.
  • #11,755
  • Sep 21, 2011 5:26am Sep 21, 2011 5:26am
Quoting Callisto
Almost agree with that, Dean, but how would you define a situation where the trade entry was recognized by a combination of mechanical signal and human decision made on whether or not to act on that signal, and then once entered, the trade is controlled by an EA, which exits either on trailing stop or take profit target, that is, no emotion there!

As we all know, once entered a trade, that is really when the emotions take over, fear of loss if it retraces, and greed to keep going ... see the chart I posted, and I think you...
PS: by the way.....those signals you speak of....you say they are mechanical signals......but they are not....the signals are an indication of what the market is doing.....and what is the market....it is a reflection of mass human psychology.....thats what moves the market....and it is why a mechanical system never works and why we can NEVER predict it.
  • #11,756
  • Sep 21, 2011 5:30am Sep 21, 2011 5:30am
Quoting anntoro
Forex Trading is simple to understand and do so that making a profit is also easy. The basic concepts behind forex trading operations, choosing a forex broker, an outline of a basic forex strategy, the tools of the forex trade, and trading tips that will guarantee the success in the foreign exchange market.
Trading may be simple to understand but unfortunately your post isn't. It makes no sense. What is your point?
  • #11,757
  • Edited 6:11am Sep 21, 2011 6:05am | Edited 6:11am
I was going to put a little tutorial on how one could enter this trade after the initial 1 hour candle dropped, using the MT4 Fibonacci Tool set to show Entry, Stop Loss & Profit Target at a 1 to 1 ratio, but the market dropped so quick, and I got distracted by work, lunch, etc.

However, anyone not in a trade could have set an ENTRY as a SELL STOP at the low of the first candle, during the second hour green candle; this ensures that when you are entering a trade, tha market is moving your way, which in this case it did in a BIG way.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd_1_9_11_c.gif Size: 33 KB
OPPORTUNITY IS NOWHERE
  • #11,758
  • Sep 21, 2011 6:08am Sep 21, 2011 6:08am
Quoting prftablefool
I believe it has more do with the orange (S&R) line than anything else. Just my opinion.
The price eventually cleared the FTA and now am waiting to see if it can clear the next hurdle.
Attached Image (click to enlarge)
Click to Enlarge Name: audchf.gif Size: 23 KB
Forex is boring but profitable with patience and discipline
  • #11,759
  • Sep 21, 2011 6:15am Sep 21, 2011 6:15am
Quoting Callisto
I was going to put a little tutorial on how one could enter this trade after the initial 1 hour candle dropped, using the MT4 Fibonacci Tool set to show Entry, Stop Loss & Profit Target at a 1 to 1 ratio, but the market dropped so quick, and I got distracted by work, lunch, etc.

However, anyone not in a trade could have set an ENTRY as a SELL STOP at the low of the first candle, during the second hour green candle; this ensures that when you are entering a trade, tha market is moving your way, which in...

I don't think this entry method has anything to do with TMS therefore may I suggest not to mix another methods over here and confuse newbies.
Forex is boring but profitable with patience and discipline
  • #11,760
  • Edited Sep 22, 2011 4:29am Sep 21, 2011 6:27am | Edited Sep 22, 2011 4:29am
anntoro
Quote
Forex Trading is simple to understand and do so that making a profit is also easy. The basic concepts behind forex trading operations, choosing a forex broker, an outline of a basic forex strategy, the tools of the forex trade, and trading tips that will guarantee the success in the foreign exchange market.

What?

Golf is simple to understand, but until I put in the practice, I’m still going to be a 20 handicap.

The fact that between 90-95% of traders lose money is more than adequate evidence that trading is not easy. My strategy is to see what these 90-95% are doing and do the opposite.

A mechanical system is simply a set of rules to build a case for entering the market. The biggest hurdle facing traders is what to do after a trade is placed. Therein lies the greatest psychological challenge.

A complete trading plan will have entries, risk and profits defined. Once a trade is place with these defined parameters, one should simply do nothing. A complete trader will follow these directions repeatedly and without hesitation; but only if there is a belief in the plan. Formulating and reinforcing this belief is the number one challenge toward achieving the discipline required for consistent results.

The most common flaw in the 90-95% is that they have unrealistic expectations and are therefore unprepared and untrained for the rigid behaviors required to be a successful trader. Why are they unprepared? Because our society today has given people a false sense of entitlement that makes them believe that just showing up entitles them to some type of return or reward. As I have said before, how can we expect them to do the hard work when the easy work begins with really hard work? It is not going to happen. I count on this every day when I enter the market.

So psychology, emotion, hard work . . . or whatever. If you cannot follow directions and sit on your hands, good luck on your roller coaster ride. After all - this is easy right?
355 traders viewing now, 1 is registered:
Catalin1906