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Trading Made Simple

  • #11,921
  • Sep 23, 2011 10:20am Sep 23, 2011 10:20am
Quoting twenty155
E/Y +25 pips
E/$ +36 pips
$/Y -3 pips (decided to exit early)

Currently long E/$ at 1.35114, +26, SL at BE

First day on my live account - pretty good start
Nicely done!

I took long EURUSD and EURJPY trades, made +30 pips and +35 pips (both hit my take-profit)

And about $/Y: I respect Big E's recommendations and I know that he included USDJPY in his currencies list, but I wouldn't trade this pair, in my opinion it is not a good pair for TMS-trading.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,922
  • Sep 23, 2011 10:26am Sep 23, 2011 10:26am
I felt the need to post this, since I think this might help others to improve their approach to trades.
So the week from Sep. 12th was a disaster for me. I made 4 consecutive looses of 2.5% (I am aware there will be coments about this but that was my decision), and on top of that, problems with internet connection at the time of trade execution and my endless clicking to exit MT4 caused that when reentering platform I was in trade of USD vs. hungarian forint, loosing some 250 EUR since it was 1 lot trade !?This was severe damage to me, since i have only 1K EUR account, so all the gain prior to this (140 EUR) trashed since I lost 21% of total account.
After backtesting last weekend, I decided to go demo again, adopting the strategy in order to improve trading and step by step build confidence.The result is very good, only 4 loosing trades. There is another thing that I am still struggling with , and now I have it like a note on the wall - when you execute the trade GO AWAY, since 3 of 4 loosing trades would have been winners if only the I wasnt looking at them all the time and exit before PA went in my favour.Trust your setups and leave, check them on next candle wahtever TF you are trading.
I will stick with demo for at least one week, and then go live again.
Happy weekendto all
Attached Image (click to enlarge)
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  • #11,923
  • Sep 23, 2011 10:48am Sep 23, 2011 10:48am
Quoting Favorite
Nicely done!

I took long EURUSD and EURJPY trades, made +30 pips and +35 pips (both hit my take-profit)

And about $/Y: I respect Big E's recommendations and I know that he included USDJPY in his currencies list, but I wouldn't trade this pair, in my opinion it is not a good pair for TMS-trading.
Thanks, and well done yourself. I think your spot on about the U/Y, thats pretty much why I exited early, its an odd one.

E/$ took 50% at +27, 50% hit BE +2

Done for the day, have a good weekend guys.
  • #11,924
  • Sep 23, 2011 10:52am Sep 23, 2011 10:52am
Quoting Favorite
Callisto, I reported you and your twin brother Erebus to the moderators. I'm not very happy about that, but I'll do it again if I have to.
and to top it off he/she is running a demo acocunt, just dont see the point in running demo accounts, open a live one and get stuck in
  • #11,925
  • Sep 23, 2011 10:54am Sep 23, 2011 10:54am
Quoting twenty155
have a good weekend guys.
Thanks, you too!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,926
  • Sep 23, 2011 11:00am Sep 23, 2011 11:00am
Quoting stinger007
and to top it off he/she is running a demo account, just dont see the point in running demo accounts, open a live one and get stuck in
I agree. When I started refining my TMS-trading in May, I was trading live. I was trading my previous system with the normal lot size and at the same time I was trading TMS with 0.01 or 0.02 lots. After 40 TMS trades I started trading TMS with a normal size lot.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,927
  • Sep 23, 2011 11:58am Sep 23, 2011 11:58am
Quoting dean
Its a great trade....well done. I would however close it over the weekend.....but thats just me.
Thanks Dean.
I was just following the original set of rules (4 hourly, TDI cross etc.) - it wasn't that difficult. I closed the trade - G20 and the weekend was enough for me to go flat.
  • #11,928
  • Sep 23, 2011 12:46pm Sep 23, 2011 12:46pm
Hello from newbie...
Today entry:
Buy GU (bounce) Only close for 20pips profit (tdi make a hook)
SELL EG (TP done..can't see the position 'cause TP was already hit).

Any comment welcomed to improve my entries.

regards
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  • #11,929
  • Sep 23, 2011 12:54pm Sep 23, 2011 12:54pm
Quoting thelearner
Hello from newbie...
Today entry:
Buy GU (bounce) Only close for 20pips profit (tdi make a hook)
SELL EG (TP done..can't see the position 'cause TP was already hit).

Any comment welcomed to improve my entries.

regards
Nice trades there. I think Big E would be proud of those. I like the bounce trade. If you want to show your trades on the picture just open account history and drag your trade onto the chart.

Cheers
Simmo
  • #11,930
  • Sep 23, 2011 8:20pm Sep 23, 2011 8:20pm
Greetings all,

Hope everyone's having a relaxing weekend.

A nice opportunity to go over some old chart's and get more knowledge into this thick head.

Best wishes, and good trading.

G-bloke.
'Fail to plan, plan to fail'
  • #11,931
  • Sep 24, 2011 1:15am Sep 24, 2011 1:15am
Hey, I'd like to know how many of you trade daily/ weekly / Monthly chart from this method?

Im not very successful in trading 1H of this method so now thinking i might only trade 4H or higher...
  • #11,932
  • Sep 24, 2011 1:44am Sep 24, 2011 1:44am
Quoting Favorite
I agree. When I started refining my TMS-trading in May, I was trading live. I was trading my previous system with the normal lot size and at the same time I was trading TMS with 0.01 or 0.02 lots. After 40 TMS trades I started trading TMS with a normal size lot.
Favorite, first of all, thank you for being so dedicated to this thread. Since you've been trading this system since May, what are you opinions and comments regarding this system? What are the pros and cons? Have you been following E's exact rules? How many trades did you take? Most of your success are from 1H or 4H charts? Winning percentage? And finally, a personal question, how many percentage have you account grew since May? Sorry for bunch of questions.
  • #11,933
  • Sep 24, 2011 2:26am Sep 24, 2011 2:26am
Hey everyone, I'm just taking the chance over the weekend to do some reading. At the moment I'm just finishing up Ari Kiev's book Trading In The Zone. I'm in the process of setting some goals for my trading which I think are pretty important for a number of reasons.

For people who have been trading this system on 1 hr and 4 hr time frames for some time now. What is a realistic daily and weekly goal to set myself? Something like 3% return on capital for a week? I've found that having goals which were unattainable in the past caused me to over trade and even risk too much hoping for a 'winner', gambling almost.

Finally, just another question does anyone use a pyramid type system to add to successful trades. It probably wouldn't be so successful but I'm thinking when the trend gets in a strong trend on the 4 hr charts it may be an option?

Thanks in advance. Hope everyone is enjoying the weekend!
  • #11,934
  • Sep 24, 2011 9:52am Sep 24, 2011 9:52am
Guitarbloke and makybe05, welcome aboard!

Quoting makybe05
For people who have been trading this system on 1 hr and 4 hr time frames for some time now. What is a realistic daily and weekly goal to set myself? Something like 3% return on capital for a week? I've found that having goals which were unattainable in the past caused me to over trade and even risk too much hoping for a 'winner', gambling almost.
makybe05, I think it's better to set your goals in pips, not in %s.

Big E said his daily goal was +50 pips and his weekly goal was +250 pips, and I think these are high, but reasonable goals.

Quoting makybe05
Finally, just another question does anyone use a pyramid type system to add to successful trades. It probably wouldn't be so successful but I'm thinking when the trend gets in a strong trend on the 4 hr charts it may be an option?
I don't add to successful trades. I think if the trend is strong, we'd better get out and then get in again on the "bounce"-signal. On the other hand, when it is a good, strong trend, we usually have TDI signals for several different currencies, and I would prefer to open EURUSD and EURJPY trades, for example, than open EURUSD only and then add to it. But I trade only H-1, maybe it is different for H4.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,935
  • Edited 10:24am Sep 24, 2011 10:04am | Edited 10:24am
Quoting fufighter
Hey, I'd like to know how many of you trade daily/ weekly / Monthly chart from this method?
I trade only H-1 (with entering from M-5), so probably my opinion doesn't count.

But nevertheless: can you imagine the stop-loss for a monthly trade (or even a weekly trade) if you set it according to the Big E's rules?

D-1 is different, and as far as I remember Big E said that people who couldn't trade during the day because of job etc. should try D-1, it is a good timeframe for TMS trading.

I used to maintain a TMS thread on one of the Russian FOREX forums. One guy overthere tried trading D-1 and made 2,000 pips in 2 weeks. But he traded 5-6 pairs with a small lot size (0.1), so he said that there were a lot of pips but money-wise it was not great. But it was OK, he was satisfied and he even wanted to increase the lot size from 0.1 to 0.3. He set his stop-losses 10-15 pips below/above high/lows and he set his take-profits more than the stop-losses. He was going to try trading more currencies, 10-12 instead of 5-6.
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,936
  • Sep 24, 2011 3:52pm Sep 24, 2011 3:52pm
Hi there everyone,

Im having the worst time trying to load tdi into my mt4 demo account with fxdd.Can anyone help me out please.Ive googled it over and over and tried all the steps but it just doesnt wanna show in my custom indicators.Any help would be appreciated.

Thanks

look forward to trying this system out
  • #11,937
  • Sep 24, 2011 6:21pm Sep 24, 2011 6:21pm
Quoting fufighter
Hey, I'd like to know how many of you trade daily/ weekly / Monthly chart from this method?

Im not very successful in trading 1H of this method so now thinking i might only trade 4H or higher...
I mostly trade the H1 but sometimes will trade the H4.. personally, I have found that on the H1.. the first candle that you enter on.. usually goes for, depending on the trend, 20 to 50 pips... then after the life of the candle is done.. the next H1 opens and it retraces and takes out all of that and sometimes more.. IMHO.

So, what I have been doing is just let the H1 candle that I jumped in the trade on, play out. If I hit my target and say I'm 10 or 15 pips above it.. then I will stay in the trade and see what the next H1 candle does... but if it retraces and then goes back to where my take profit was/is.. then I just exit. I'm not going to let the market take those pips from me... just my 2 cents.

As far as trading the higher time frames... I can't wrap my head around lowering my lot sizes just to try and make 100+ pips.. when I can just enter a trade on the H1 candles and be out of it in a 10th of the time.. with the same amount.. or in some cases more profit. IMO.. the longer you are in the market.. the more you are risking. Look at all the intervention that has been going on!!!! Why would you put yourself at risk anymore than you have to.. just my thoughts!
  • #11,938
  • Sep 24, 2011 6:28pm Sep 24, 2011 6:28pm
Quoting makybe05
Hey everyone, I'm just taking the chance over the weekend to do some reading. At the moment I'm just finishing up Ari Kiev's book Trading In The Zone. I'm in the process of setting some goals for my trading which I think are pretty important for a number of reasons.

For people who have been trading this system on 1 hr and 4 hr time frames for some time now. What is a realistic daily and weekly goal to set myself? Something like 3% return on capital for a week? I've found that having goals which were unattainable in the past caused me to over trade...
What you need to do, IMH, is do up a money chart. What I mean by this is.. based on your money management plan.. how many lots you plan to trade per trade.. and say, your goal is 100 pips a week. Calculate how many pips you would need to make each day to attain that. But in the money chart.. keep track how much money you are making each day/week/month... you might be surprised how much it accumulates in just a month.
  • #11,939
  • Sep 24, 2011 7:19pm Sep 24, 2011 7:19pm
Quoting fufighter
Hey, I'd like to know how many of you trade daily/ weekly / Monthly chart from this method?

Im not very successful in trading 1H of this method so now thinking i might only trade 4H or higher...
Hi Fu fighter like you I have trouble with shorter timeframes so I am trading daily.
This thread started from a system called synergy if you go to this thread
http://www.forexfactory.com/showthread.php?t=106887

You will find a discussion on synergy and the indicators plus two templates one for 15min the other daily.
The daily has more indicators and as such the entries are much much more consevative but very accurate.
I have been trading this with success but it is like watching paint dry but so far very profitable
  • #11,940
  • Sep 24, 2011 7:34pm Sep 24, 2011 7:34pm
Hi @ all!

I was trying Big E. in 1 Day, too - The result was bad (Demo 2 Weeks).

Quote
He set his stop-losses 10-15 pips below/above high/lows

Sounds a little crazy for me. If you are trading 1D meaning you need a SL for 200-400 pips...

Quote
...and he set his take-profits more than the stop-losses.
Nice idea. special for 1D-Timeframe or above.

Somebody knows what happend with Big E. ?
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