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Trading Made Simple

  • #11,961
  • Sep 25, 2011 10:32am Sep 25, 2011 10:32am
Hi Folks,

Just remember, you all have the option to add members to the ignore list and that'll clean up the thread nicely - I seem to be adding at least one a week to mine

Three Step Rule

click on member's name
add member to ignore list
confirm

Result - less whining and a cleaner thread
"To live with Passion, it takes Courage and Grace to survive"
  • #11,962
  • Sep 25, 2011 11:28am Sep 25, 2011 11:28am
Quoting PipTheTrade
Look.. why don't you both just take it to email.. ok.. leave it out of the thread.. enough already!

Hey PTT,

Eelfrnz will probably ban me for saying this but if that happens I'll accept the consequences.

I think those two are married. If not, then they sure sound like it.



The Hard Right Edge Experience.
  • #11,963
  • Sep 25, 2011 1:01pm Sep 25, 2011 1:01pm
So, the idea is:

1). Good people here think that if I use more precise M-5 entering after a good H-1 signal, I should open my own thread and don't participate here. I don't think so but probably good people know better.

2). Good people here advised to add me to the ignore list because they think that all my "contribution" here is quarreling and arguing. I don't think so, and I "quarrel" and "argue" in order to keep the thread clean from the trolls, but I don't have any desire to explain that I'm "a good guy" here.

I'm sure that this thread needs me much more than I need this thread (as a matter of fact I don't need it at all, I just wanted to help newbies), but since the majority of the participants think differently, I decided:

1). I will never post in this thread again

2). I won't be answering any PM questions about TMS.

Thanks everybody and have a nice day!
Gentlemen always play by the rules. If they can't, they change the rules.
  • #11,964
  • Sep 25, 2011 3:58pm Sep 25, 2011 3:58pm
Quoting Favorite
So, the idea is:

1). Good people here think that if I use more precise M-5 entering after a good H-1 signal, I should open my own thread and don't participate here. I don't think so but probably good people know better.

2). Good people here advised to add me to the ignore list because they think that all my "contribution" here is quarreling and arguing. I don't think so, and I "quarrel" and "argue" in order to keep the thread clean from the trolls, but I don't have any desire to explain that I'm "a good guy" here.

I'm sure that this...
I never said that you could not post constructive things.. I just meant that enough was enough on fighting with Calisto (Spelling).. you don't have to leave. And drilling down to the M5 chart is, I think, a smart thing to do. Personally, I only drill down to the M15 chart.. but hey.. to each there own.
  • #11,965
  • Sep 25, 2011 4:20pm Sep 25, 2011 4:20pm
Quoting PipTheTrade
I never said that you could not post constructive things.. I just meant that enough was enough on fighting with Calisto (Spelling).. you don't have to leave. And drilling down to the M5 chart is, I think, a smart thing to do. Personally, I only drill down to the M15 chart.. but hey.. to each there own.
I am not sure when I drill down to the 15M or 5M exactly what to look for. If a lower TF, either one, is not in agreement then does that mean a trend reversal or a pullback? And how does one know the difference?

Also, is this the right formula for determining risk as lot size: Acct bal. X risk% / SL in pips /pip value = lot size. I got this from a coding thread but not sure if I got it right. Anyone? Thanks, p
  • #11,966
  • Sep 25, 2011 4:25pm Sep 25, 2011 4:25pm
Favorite
Quote
I'm sure that this thread needs me much more than I need this thread (as a matter of fact I don't need it at all, I just wanted to help newbies), but since the majority of the participants think differently, I decided:
1). I will never post in this thread again
2). I won't be answering any PM questions about TMS.
Thanks everybody and have a nice day!

Favorite's post got me thinking . . .

Had some time to reflect after an incredible week and thought I would share a few more thoughts and realities. It seems my insights have run their course. I can easily see where value can be overshadowed by inexperience and churn - a reoccurring fact of forums and threads that I was cautioned about. The sheer volume of material here can also be daunting for the late comers and looking at pictures (charts) can be much more rewarding than reading. Indeed, there are some very good and generous traders here doing a great job of helping the less experienced. I am sure your hard work is greatly appreciated. Thanks to those of you that offered kind words and support and thanks to Big E for starting the thread. I'll PM some of you with ongoing posts and continue to answer your questions as best I can. Not looking for anything here and no comments required - just sharing some thoughts.

Most importantly, in addition to taking trades, I spent the last week, and will spend the next, reinforcing the skills that got me to the level of professional - the kind of investment in time and ongoing education that will keep me sharp and at the top of my game. Remember the recommendation I made a couple of weeks ago?

After all, this is a business, and a ruthless one at that. It is during these "refreshers" that I realize the huge chasm between the professionals and the amateurs. I consider myself extremely fortunate to be one of the former. It is a completely different world when you spend time with the experts and their peers who provide a mind blowing view of global finance, this business, and an "insider's " view of trading success. This reminds me that I need to stay focused on building wealth, not spending time in fragmented forums and threads. I have read so many posts in so many threads . . . so many theories, ideas, and systems - truly mind numbing.

It saddens me deeply that this industry is plagued by people that prey on the desperation of others or just don't know what they are talking about. It prevents good folks from getting a fair shake. Anyone trying to genuinely help is painted with the same distrusting broad brush. The irony is the critics rarely have alternatives to offer - just their skepticism, fear and ongoing failure - with which to some degree I can empathize. I also realize that it is difficult to find those with integrity. The other sad truth is that people enter the trading arena with completely inaccurate and/or unrealistic expectations. This is not a joke - this deal can cost lots of money, relationships and bury you emotionally.

In trading, as in life, there are winners and losers. This message is simply a reflection on the true, merciless nature of the market and its participants as you have or will soon learn.

"A good friend of mine said a long time ago, if you want a friend, get a dog; you don't have friends in the market." from the movie Floored.

It was reiterated again this week while chatting with a group of professional traders that this is not about scaring you into your trading commitment. It is about providing you with a higher level of awareness. It is about financial war. Unless you get in tune with that concept, you are kidding yourself. Once you get to that that level of skill, you will begin to realize the upside is beyond imagination, but the downside can be equally devastating. Those doubting me will either remember this post when the dust of disaster settles, or thank me for saving them some anguish by getting focused. Either way, at the level you seek to attain and that the pros operate, please know this is a serious business with serious players that want to rip your heart out every chance they get - and light up a cigar afterwards.
  • #11,967
  • Sep 25, 2011 4:48pm Sep 25, 2011 4:48pm
Quoting piprac
I am not sure when I drill down to the 15M or 5M exactly what to look for. If a lower TF, either one, is not in agreement then does that mean a trend reversal or a pullback? And how does one know the difference?

Also, is this the right formula for determining risk as lot size: Acct bal. X risk% / SL in pips /pip value = lot size. I got this from a coding thread but not sure if I got it right. Anyone? Thanks, p
When drilling down to the M15 chart... it's not to see the trend. That's done by looking at the H4 and the H8, Daily.. for me.. drilling down means that I can see what the hour candle I'm looking at entering is still going in the direction of the trade. Once in the trade. I look on the M15 and sometimes the M5 to make sure it's still going strong. If I see a reverse candle forming on the M15.. I usually exit the trade at whatever profit I'm at. It just depends on how the markets been moving since I started watching it. Sometimes I let a reverse candle form on the M15.. and hope that the next one pushes back in the direction I'm going... I guess it all depends on how far or not I'm in profit when this starts occurring. If I am close to my take profit.. I usually just exit with what I have then. As I've said before.. I don't like giving back the pips I've got once I'm close or at my take profit.

My formula for risk is,

Acct Size / 100 = This gives you the percentage.. then, that figure / by what % amount you want to risk.

ie.. 10,000.00 Account balance / 100 = 100
100 / 2% = 50

So, 50 dollars is what you are willing to risk @ 2% on a trade. Then you take that number and divide it by what the pip worth is.

ie.. 50 / 1.20 = 41.666666666666667 pips.

So.. at 2% risk.. your stop loss would be 41.6666667 pips.. personally, I just would use 40 pips.
  • #11,968
  • Sep 25, 2011 7:00pm Sep 25, 2011 7:00pm
Quoting simmo24
Ok, it was an off the cuff statement, but I've only just started with this system and I want to see what works and what doesn't. Any trade can go bad. So I tried a countertrend trade and I'll do it again and again to see what percentage might win, this one did, might just be luck, but it also might mean that the system works. judging from this thread I think it stands a good chance of being the "simplest" method of profitable trading I've come across yet, and I've sort of been there done that, with the blown account thing so while I'm...
I agree there is an element of gambling....I have suggested this before. But the idea of trading is to put the odds i your favour and increase your probability.....taking trades that you THINK MIGHT have a chance is not honing your skills or teaching you anything other than bad habits. ITs easy to get into the habit of talking yourself into trades that dont quite meet your entry criteria and whether you are practicing or not...you will develop that habit....so you are better off selecting only the best trades that fully meet your entry criteria as part of your practice......that way you develop a fixed perspective on what you use to enter and your eyes and brain become accustomed to detecting immediately those scenarios.
Entering trades that you THINK may have a chance is pulling the lever on a poker machine.
  • #11,969
  • Sep 25, 2011 7:12pm Sep 25, 2011 7:12pm
Quoting cashforex
Hi

Guys you should be trading on the 1H or 4H charts for this system as mentioned by the creator, monitor the Trade when placed and wait till the trade gets into profit about 18 or 20 pips and get out and wait for the next set up, make sure you have SL in place,just in case if you follow the rules correctly the trade will more likely to go in your favour and you should see your account starting to grow, don't wait for the big targets, after all our aim is to make money from the market by growing your account not who makes the most pips ( Take...
THis statement is rubbish and should be completely ignored.
If any of you are trading the 4 hour charts and taking regular profits of 18 pips you are going to blow your account and continue to do so. Your stops are often 100 or 200 pips on the 4 hour charts at the last swing high or low....WHICH IS PART OF THIS METHOD.......so to risk 200 to make 18.....absolutley ludicrous. This has been mentioned SOOOOO many times and you are on here actually promoting this way of thinking. If new people join this thread and consider this to be the normal way of trading this method you will send them broke. THere is NOTHING EVER mentioned in this sytem about taking small profits. THe thread starter trades the 4 hour charts with the full expectation of making close to 100 to 150 pips on a good trade....if he is into positive pips and he notices PA has slowed or is reversing by more than 15 pips THEN he will exit and wait for another entry. To trade this or any other method on the hourly or 4 hourly charts and have your profit expectatins at 18 pips is insane.
  • #11,970
  • Sep 25, 2011 7:21pm Sep 25, 2011 7:21pm
Quoting Callisto
ALL trades have now given a signal in the other direction, several close to being stopped out, have to leave the office now, will monitor later and if report how it all turns out, good luck to all, have a nice week-end
And this is Dave's point....if all your stop losses get hit it means you are down 8%....not the safe 2% you mentioned.
Sure your risk amount is a personal thing, and yep the standard is around 2% of your account, but if you have 20 trades on at the same time, kindergarten mathematics will tell you you are risking way more than 2%.
Hardly money management.
  • #11,971
  • Edited Sep 26, 2011 5:31pm Sep 25, 2011 7:46pm | Edited Sep 26, 2011 5:31pm
Quoting dcginc
Favorite

Favorite's post got me thinking . . .

[font=Calibri][size=3]Had some time to reflect after an incredible week and thought I would share a few more thoughts and realities. It seems my insights have run their course. I can easily see where value can be overshadowed by inexperience and churn - a reoccurring fact of forums and threads that I was cautioned about. The sheer volume of material here can also be daunting for the late comers and looking at pictures (charts) can be much more rewarding...
Firstly.....Favourite and Callisto shut the f*&K up and get on with it. ITs a trading forum to discuss and trade the TMS method.
DC......everyone enjoys your posts...they are informative and concise and extremely helpful. HOwever your recent posts have refelected your frustration......and rightly so. You have no need to "save" everyone. Although your intentions are good, you are wasting your time and run the risk of constantly being frustrated (as I am sure Big E is). Again my opinion on this is simply becasue we are all different and no matter how professional you are, how succesful you are...or whatever....this is not a normal vocation and you simply cant teach your method verbatime to others and expect them to have the same results or success.
SO dont worry about being a saviour......and just keep posting your trades, tips and techniques and if people are smart enough to take heed then great, if not....its their problem. Why frustrate yourself?? You are stiil helping greatly.
And I have watched some of that "advice" you gave some weeks ago....and they have an interesting take on forums and the people involved in them......so I know what oyu are talking about.
I clearly understand your frustration......this forum is a mess now to be honest. I only like to contribute when I see someone advising dangerously or posting ludicrous statements...apart from that I just sit back and watch mostly now.
  • #11,972
  • Sep 25, 2011 8:52pm Sep 25, 2011 8:52pm
Took this trade off 4H. Let's see how it unfolds.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud sept 26.gif Size: 24 KB
Forex is boring but profitable with patience and discipline
  • #11,973
  • Sep 25, 2011 10:05pm Sep 25, 2011 10:05pm
Quoting prftablefool
Took this trade off 4H. Let's see how it unfolds.
Mate let us know how that turns out, im not watching the markets but it looks like a killer trade
  • #11,974
  • Sep 26, 2011 3:11am Sep 26, 2011 3:11am
Quoting prftablefool
Took this trade off 4H. Let's see how it unfolds.
did look good! But sl hit?

Thats we we should never trade short in an uptrend i suppose
  • #11,975
  • Sep 26, 2011 3:34am Sep 26, 2011 3:34am
1st real week trading with real money!
Here's a gold trade, down at the moment but hopefully will turn around!
Attached Image (click to enlarge)
Click to Enlarge Name: trade.jpg Size: 159 KB


Any comments?
  • #11,976
  • Edited 5:05am Sep 26, 2011 4:04am | Edited 5:05am
Well that was pathetic..... a true lesson in walking away and not watching!
Just spent the whole time watching the trade go down, when it came back up I 'gratefully' exited for a few positive pips, now it will probably continue to go up... I got out at 1622.7 watch it climb higher ;-)

I MUST LEARN TO TRUST THE SIGNAL AND WALK AWAY

*1103 UK Time - Well the tdi hooked over now and the price at 1606 so guess I did the wise thing BUT can anyone tell me what was wrong with the signal in the first place or was it just one of those 'you can't win every time' things?*
  • #11,977
  • Sep 26, 2011 4:16am Sep 26, 2011 4:16am
Did this demo trade (2nd yellow line, long EUR/USD).. 30 pips (0.40 lot size).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_26Sep.png Size: 59 KB
  • #11,978
  • Sep 26, 2011 5:05am Sep 26, 2011 5:05am
this thread has become argument now....sigh....I think eelfranz will be very upset if he watched this...
THis is supposed to be about traders helping each other. I don't see it here now.

But still...thanks eelfranz for sharing.
  • #11,979
  • Sep 26, 2011 5:10am Sep 26, 2011 5:10am
Quoting ivanhoekg
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...
Nice tips, ivan
I am learning and trying at demo too...still has losses though. Will try to be more precise about the exits.

What TF you trade at? h1 or h4 or d1?
  • #11,980
  • Sep 26, 2011 5:44am Sep 26, 2011 5:44am
Quoting thelearner
this thread has become argument now....sigh....I think eelfranz will be very upset if he watched this...
THis is supposed to be about traders helping each other. I don't see it here now.

But still...thanks eelfranz for sharing.
There are some of us here who just want to post trades and learn from each other. I'm afraid there are others who just like to argue and criticize other peoples trades, but strangely seem unable to post any of their own trades.
I haven't been here long and I hope to be sticking around.
Anyway I went long on E/U today and although was up 40 pips at one stage I closed out for 10 pips when the TDI went flat.Looks like I should have stuck with it a while longer though. Should have trusted the HA candles more I think. Still it's a learning process. I'll post a chart when I'm able. (At work at the moment).
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