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Trading Made Simple

  • #11,781
  • Sep 21, 2011 12:12pm Sep 21, 2011 12:12pm
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.
Is this guy for real?

Now I've seen EVERYTHING here...
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,782
  • Sep 21, 2011 12:18pm Sep 21, 2011 12:18pm
For any interested, here's my day setup. I recently added the eraser board (far left) so I can keep my TMS trade-plan/entry critera in plain view. I like to have a few screens and a backup in case of technical issues. Also keep a calendars, notebooks, and books around. I once read that you need to have a good "place" for trading. I think it helps me personally to have a well laid out area to do all this. Thought this might help someone new to see it.
Attached Image
  • #11,783
  • Sep 21, 2011 12:22pm Sep 21, 2011 12:22pm
Quoting jgadefelth
then please tell me more about 1h are you trading it special time, are you trading it just like the method or have you add anything ?


best regards
Please read these three posts, I think they covered the basics:

http://www.forexfactory.com/showthre...34#post4925134
http://www.forexfactory.com/showthre...26#post4936226
http://www.forexfactory.com/showthre...03#post4937003

But as I said in one of these posts, I respect Big E and don't want to hijack the thread!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,784
  • Sep 21, 2011 12:24pm Sep 21, 2011 12:24pm
Quoting FXSurf
I recently added the eraser board (far left) so I can keep my TMS trade-plan/entry critera in plain view. .
I'm always more fascinated in how people go about their trading day. Plan, routine, step by step how you choose to attack the market and then use TMS.

Would you mind giving me an idea of what your plan was in tackling a day like today? Do you start by analyzing naked charts, look for patterns ? Trend etc ?

Any info would be helpful, cheers.
  • #11,785
  • Sep 21, 2011 12:33pm Sep 21, 2011 12:33pm
Here's mine
Attached Image
  • #11,786
  • Sep 21, 2011 12:45pm Sep 21, 2011 12:45pm
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.
Looking forward to seeing some charts and following your trading success - looks like we can all learn from you
"To live with Passion, it takes Courage and Grace to survive"
  • #11,787
  • Sep 21, 2011 12:54pm Sep 21, 2011 12:54pm
Not seen anything that meets me entry criteria for this week so far - one pending trade set last night waiting for PA and is now on 2nd candle - great set up candle and PA may trigger the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad day 9-21.gif Size: 29 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #11,788
  • Edited 1:31pm Sep 21, 2011 1:08pm | Edited 1:31pm
Quoting twenty155
I'm always more fascinated in how people go about their trading day. Plan, routine, step by step how you choose to attack the market and then use TMS.

Would you mind giving me an idea of what your plan was in tackling a day like today? Do you start by analyzing naked charts, look for patterns ? Trend etc ?

Any info would be helpful, cheers.
Sure, I'm in the USA so my first alarm goes off at 2am EST. I'm only trading the Hourly charts so want to "be there" for that candle close right at 2am to check for an entry. Today I got it on the EUR/USD and I went short at 2am. I set a stop/limit and went back to sleep. Next alarm at 3am and on through the night it goes. I get up at 7am and move to my daytime setup where I continue to check the charts at the top of each hour until noon. Then I'm done.
I personally do not do top down analysis with this method. I trade it "as is" at the top of the hour. If I see an entry, I do my very best to take it without talking myself out of it (not easy). In fact, the hardest part.
Trade Plan : I'm looking for a HA color change that closes across the 5ma, which is my personal criteria. It must be 1st or 2nd candle and the trade must have stoch & TDI alignment as per the system or no entry! I employ a 1-2 risk/reward and place stops as BigE suggests; near recent high or/ low.
I personally am looking for 100+ pips a week trading Monday thru Thursday 2am - 12noon EST. This week was just under +200 in live account so I'm very happy with that. Just trying to stay diciplined and stay the hell out of my own way!
  • #11,789
  • Sep 21, 2011 1:21pm Sep 21, 2011 1:21pm
How can I add file : "#1 best 5 ma tdi" to MT4 for use this system.

Thanks
  • #11,790
  • Sep 21, 2011 1:59pm Sep 21, 2011 1:59pm
suggest you read the attached and the find the MT4 tutorials on google
Attached File(s)
File Type: doc MT4 navigational tips and techniques.doc   50 KB | 751 downloads
"To live with Passion, it takes Courage and Grace to survive"
  • #11,791
  • Sep 21, 2011 2:09pm Sep 21, 2011 2:09pm
Take a look at this thread and let me know if this appeals to you.

http://www.forexfactory.com/showthread.php?t=315572

Here it is graphically.
Attached Image (click to enlarge)
Click to Enlarge Name: SEFC Cycle Screen 4.jpg Size: 182 KB
  • #11,792
  • Sep 21, 2011 2:11pm Sep 21, 2011 2:11pm
Quoting FXSurf
Sure, I'm in the USA so my first alarm goes off at 2am EST. I'm only trading the Hourly charts so want to "be there" for that candle close right at 2am to check for an entry. Today I got it on the EUR/USD and I went short at 2am. I set a stop/limit and went back to sleep. Next alarm at 3am and on through the night it goes. !
Thanks for that FXSurf, very helpful.

I'm just trying to finalize my plan and I'm nearly 100% sure that the 4hr isn't always the right choice for me as i too am looking for tight stops and a realistic 2:1 expectation which is rare enough on the 1 hour, let alone the 4hr. That settles it for me, 1hr + PA closing across the 5ma.

BTW Between those alarms every hour, do you find all your dreams are somewhat forex tainted? ; )
  • #11,793
  • Sep 21, 2011 2:18pm Sep 21, 2011 2:18pm
Quoting Evaluator
Take a look at this thread and let me know if this appeals to you.

http://www.forexfactory.com/showthread.php?t=315572

Here it is graphically.

That makes my eyes and my brain hurt........
  • #11,794
  • Sep 21, 2011 2:35pm Sep 21, 2011 2:35pm
hey FXSurf,

thanks a lot for your summary of what you do. This sounds really pretty simple and I will give it a try on a demo account this week.

I asked myself of doing top down analysis, but I think this would put too much complex to the simple system (in MY opinion!).




Quoting FXSurf
Sure, I'm in the USA so my first alarm goes off at 2am EST. I'm only trading the Hourly charts so want to "be there" for that candle close right at 2am to check for an entry. Today I got it on the EUR/USD and I went short at 2am. I set a stop/limit and went back to sleep. Next alarm at 3am and on through the night it goes. I get up at 7am and move to my daytime setup where I continue to check the charts at the top of each hour until noon. Then I'm done.
I personally do not do top down analysis with this method. I trade it "as is" at...
  • #11,795
  • Sep 21, 2011 2:36pm Sep 21, 2011 2:36pm
Quoting twenty155
Thanks for that FXSurf, very helpful.

I'm just trying to finalize my plan and I'm nearly 100% sure that the 4hr isn't always the right choice for me as i too am looking for tight stops and a realistic 2:1 expectation which is rare enough on the 1 hour, let alone the 4hr. That settles it for me, 1hr + PA closing across the 5ma.

BTW Between those alarms every hour, do you find all your dreams are somewhat forex tainted? ; )
Lots of traders here doing great on 4hr. That's just my personal approach, as is the cross of the 5ma which I do as a precaution to getting burned on what would otherwise be a bounce trade. But yes, I like the tight stops and faster trades. And yeah, weird freakin dreams bro. I had one where the trade kept running against me and I coudn't close it. Smashed the laptop, cables everywhere...Then woke up to find I was up on the trade. The wife now knows I'm nuts.
  • #11,796
  • Sep 21, 2011 2:58pm Sep 21, 2011 2:58pm
Quoting juliant
That makes my eyes and my brain hurt........

juliant,

sorry to hear that. I hope your eyes and brain get better.
  • #11,797
  • Sep 21, 2011 3:01pm Sep 21, 2011 3:01pm
just joining to learn the simple method...
WOOWW 787 pages...anyone make a compilation? that would really save lots of time.

regards
  • #11,798
  • Sep 21, 2011 3:03pm Sep 21, 2011 3:03pm
Here's an example of a trade that gets reversed by an FOMC news release such as "Twist" (should know better than to have a pending trade in place during FOMC events - we live and learn!)

Currently down 120pips on the entry point - SL holding, so we wait and see where it goes. Often these news releases end up retracing back to where they started and the original trend resumes. Time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad day 9-21 v2.gif Size: 28 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #11,799
  • Sep 21, 2011 3:16pm Sep 21, 2011 3:16pm
Quoting FXSurf
Then woke up to find I was up on the trade. The wife now knows I'm nuts.
Lol, I knew it! I'm not the only one with the crazy dreams.

As far as trading 4hr, I only take trades that have very tight stops, but I rarely see these. As for 100 pip saftey SL, I have to lower my position size accordingly and then +50 pips turns out to be the same as a 15 pip gain on a regular trade.

Time for a Guinness.
  • #11,800
  • Sep 21, 2011 3:41pm Sep 21, 2011 3:41pm
Beautiful play starting at 5:30am Pacific Time on the 3 Amigos.... e/u, g/u, a/u.... money galore....

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