Trading Made Simple | Page 621 | 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

  • #12,401
  • Oct 6, 2011 7:50am Oct 6, 2011 7:50am
Thanks Callisto of reminding me of MM, sizing and the ubiquitous 2%. Trying to fine tune entries. No backtesting, but looking into walk forwards. New to forex, though not the markets.
Shorts on the run at the moment. Long EU from the bottom of the selloff this am and just got out.

Fullpip
  • #12,402
  • Oct 6, 2011 7:59am Oct 6, 2011 7:59am
Wow. Just thought I'd see how this thread is going. To hell on a handcart by the look of things.

We've got short trades being made when TDI has crossed up at a sharp angle. And in the middle of news turbulence too...

Quoting Callisto
Why close now? you must have taken 100 pips pain already, this is what I'm talking about, triggered in now and GBP-JPY on other account
...and this person is advising novice traders? Be careful. Be very careful.

Also, to those new to trading, don't take this 2% risk figure as read. Perhaps when you've some solid successful LIVE trading experience yes. Until then, even 1.5% is pushing it.
  • #12,403
  • Oct 6, 2011 8:17am Oct 6, 2011 8:17am
Quoting DaveUK
Wow. Just thought I'd see how this thread is going. To hell on a handcart by the look of things.

We've got short trades being made when TDI has crossed up at a sharp angle. And in the middle of news turbulence too...



...and this person is advising novice traders? Be careful. Be very careful.

Also, to those new to trading, don't take this 2% risk figure as read. Perhaps when you've some solid successful LIVE trading experience yes. Until then, even 1.5% is pushing it.
THANK YOU!!!! the thread starter has all but vanished and these clowns have taken over.....it will no doubt kill the thread, kill newbies accounts who follow thier advice, and destroy the original sense of community this thread USED to have. Let it be known that Callisto and Erebus ARE the same person, he/she has been on my ignore list for some time now, because he/she does not know what they are talking about, seriously, go look at thier profiles, go look at thier posts. Guys and gals why would anyone want to set up two accounts and continuously want to post under both? Seem devious to you? Use your brains.
  • #12,404
  • Oct 6, 2011 9:15am Oct 6, 2011 9:15am
HI Funwithbux,

As a junior member, i don't have my PM enabled and i'm unable to post large attachments. Could you please send me a hello email to stubble27 at yahoo dot com with FUNWITHBUX in the subject. I will send you my excel spreadsheet from my actual account with FUNWITHBUX in the subject line.

sorry, i'm not comfortable giving out my actual email address on this forum.

I'll be happy to run this on a 4h chart at a later date. I'm currently testing EURJPY to be followed by gold, silver, GBPUSD and GBPJPY on Daily.

My logic is if each of these currency pairs can produce a solid 2000 pips/yr that would be 10K pips - stress free

Thanks,

Amyn


Quoting funwithbux
Hi ananjee,
I, for one, would be interested in seeing the results. I PM'd you separately. To gain 1900 pips in that time frame roughly makes for 86 pips a week. That seems reasonable, but maybe a bit low. It may have to do with you running it on a Daily timeframe. Did you, or will you, run it on a 4 hour?
I would be interested in hearing how you modified the exit and if you were running multi-lots with different targets or single lots with single targets.
Thanks for taking the time to do this. I think backtesting is a major step towards success...
  • #12,405
  • Oct 6, 2011 9:23am Oct 6, 2011 9:23am
Just closed the 2nd trade for the day on my live account.....both on the M15 chart due to choppy PA earlier. First trade was on the TDI crossover after the London session set a high & tested it. News releases kept it going my way and if it had not, I would have still stopped out with a profit. The second was a bounce trade following consolidation after the big move down. The TMS works. Hope you all had success in your trading today.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 31 KB
  • #12,406
  • Oct 6, 2011 9:53am Oct 6, 2011 9:53am
Phx 62.
Nice trade. thanks for posting it. This system is so simple and high rate succes as you keep it as simple the way it is. Less confusion and More profit.
Thanks Big E.
  • #12,407
  • Oct 6, 2011 10:30am Oct 6, 2011 10:30am
Today's 4H on EUR/USD shows a buy on TDI, but the longer term trend is down, we are right at the trend line, and Stochastic indicates closer to overbought than oversold.
I am interpreting this as a 'no trade' signal.
Anyone else have an opinion they would care to share?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-06_VolatileEuro4h.jpg Size: 207 KB
  • #12,408
  • Oct 6, 2011 10:37am Oct 6, 2011 10:37am
Personally I'm short of this because of the trend direction etc and 'ignored' the 4hr as the 1hr showed it 'hooking'....time will tell
  • #12,409
  • Oct 6, 2011 10:47am Oct 6, 2011 10:47am
Quoting juliant
Personally I'm short of this because of the trend direction etc and 'ignored' the 4hr as the 1hr showed it 'hooking'....time will tell
When you say 'hooking' I assume you are referring the quick (hooked) flattening of the TDI on the 1h as shown in the chart. Do I have that right?
Attached Image
  • #12,410
  • Oct 6, 2011 11:00am Oct 6, 2011 11:00am
Quoting funwithbux
Today's 4H on EUR/USD shows a buy on TDI, but the longer term trend is down, we are right at the trend line, and Stochastic indicates closer to overbought than oversold.
I am interpreting this as a 'no trade' signal.
Anyone else have an opinion they would care to share?
Thanks
Haven't posted for some time, but discovered this thread and system. One of the things that got my attention is how active the thread still is. Trying it myself, i love it. With 4 hour bars the action at the "bar open" part of the strategy is one that works well. I love the simplicity of it, and from experience of taking good strategies and "adding" on to them, i realize that doing that here will just hurt it. So i just have the TDI and average price bars. After manually backtesting many pairs extensively i find that it really quite remarkable. I am honestly impressed.

As far as if this is a "trade "signal, i would say it is important for you to be very comfortable with the PA. An outside bar like this is not a real common event ( as a percent of bars goes) , so it can throw us for a loop. Indeed, the no trade position is a valid one. As Big E would say, just move on to the next chart. I liket the 4 hour bars as it gives us a bit of time for the PA to tip its hand. Thats why studying old charts and price action is so important. If you look at these outside bars with a doji close, the next bar often signals direction. In this case it signalled a continuation long. Personally i looked to add on to this (i had already entered at the cross over below and took 1/2 off ) and i don't like to add on so i didn't take it. Also, a price action is also looking at related pairs (at least it is what i tend to do ) If you looked at the Eurjpy, Eurgbp, you can see it is the EUR driving all this PA, and the other pairs were actually more EUR bullish.

But in the end, i think you need to have a CLEAR plan. A part of it must include PA interpretation, which really comes from experience. That is why Big E was so dead set against EA's.(and i SO AGREE ). Just can't replace the computer in the head!

My best to alll...
Jim
  • #12,411
  • Oct 6, 2011 12:15pm Oct 6, 2011 12:15pm
Quoting james275
Haven't posted for some time, but discovered this thread and system. One of the things that got my attention is how active the thread still is. Trying it myself, i love it. With 4 hour bars the action at the "bar open" part of the strategy is one that works well. I love the simplicity of it, and from experience of taking good strategies and "adding" on to them, i realize that doing that here will just hurt it. So i just have the TDI and average price bars. After manually backtesting many pairs extensively i find that it really quite remarkable....
Please am a follower here, really love your insight and contributions, how do i install TDI to my chart, where can i get it from?

Thanks, really appreciated.
  • #12,412
  • Oct 6, 2011 12:48pm Oct 6, 2011 12:48pm
Quoting funwithbux
When you say 'hooking' I assume you are referring the quick (hooked) flattening of the TDI on the 1h as shown in the chart. Do I have that right?
that's correct....although the 4 hr tf may win out
  • #12,413
  • Oct 6, 2011 1:29pm Oct 6, 2011 1:29pm
Quoting ananjee
My logic is if each of these currency pairs can produce a solid 2000 pips/yr that would be 10K pips - stress free
Ok, mail sent....look forward to seeing result. thx
  • #12,414
  • Oct 6, 2011 1:47pm Oct 6, 2011 1:47pm
Quoting james275
If you looked at the Eurjpy, Eurgbp, you can see it is the EUR driving all this PA, and the other pairs were actually more EUR bullish.
Excellent Point: something I will use going forward, thanks.
...
But in the end, i think you need to have a CLEAR plan. A part of it must include PA interpretation, which really comes from experience.
Any pointers on how to learn PA? I mean to say from experience is fine, but without a road map I think it will be difficult. I am not trying to get out of doing the work just trying to figure out the most efficient way to tackle this issue.
Do you think a book on candlesticks, like Nison's, would be good for this? Any other resources come to mind?
Thanks for the feedback
  • #12,415
  • Oct 6, 2011 2:15pm Oct 6, 2011 2:15pm
Quoting funwithbux
Any pointers on how to learn PA? I mean to say from experience is fine, but without a road map I think it will be difficult. I am not trying to get out of doing the work just trying to figure out the most efficient way to tackle this issue.
Do you think a book on candlesticks, like Nison's, would be good for this? Any other resources come to mind?
Thanks for the feedback
Go down to the very bottom of this thread page and look in on "Rocky's" thread. I am not endorsing it but there are some good ideas and examples. Something to read during tomorrows NFP.
  • #12,416
  • Oct 6, 2011 3:26pm Oct 6, 2011 3:26pm
Definitely will check it out, thanks
  • #12,417
  • Oct 6, 2011 5:09pm Oct 6, 2011 5:09pm
Quoting funwithbux
Any pointers on how to learn PA? I mean to say from experience is fine, but without a road map I think it will be difficult. I am not trying to get out of doing the work just trying to figure out the most efficient way to tackle this issue.
Do you think a book on candlesticks, like Nison's, would be good for this? Any other resources come to mind?
Thanks for the feedback

Fun, i wish there was a pill we could take and we would get it....but there isn't. We are all here on this forum, trying to become successful and support ourselves for a living. Very few make it. I appreciate the intent and spirit of the initial authors of this thread, and their intent to really help others. They didn't need to do that. There is no short cut. But what i have learned has had a cost.

An education costs money and time. I think there are some great books on canndlesticks that can give you insights on this. Babypips.com has also been recommended. If you are like me and started out thinking this would be easy, let me save you some time and $$ and tell you that it isn't. It is a business. You need to have a plan. And you can't change the plan after every trade. "In the zone", mentioned many times before is one of the best books that can help you not only implement a plan but to test it as well. For instance, i am now testing many pairs, trading a vanilla 4 hour time frame. No trying to optimize it by looking down a time frame, etc.....have done that toooo much. I am proving that the system is all that it is said to be by others. I am taking 100 trades. All of them. Using the rules. I expect to lose some but win more. I have my own way of managing the trade as Big E gives us that lee way. each has there own style. After this period, i willanalyze them, and see where i go from here. I am watching my self become more confident with this trading strategy. So far, it has been very profitable, and simple.

The beauty of the system as presented is that it is simple. the variations that others have made to it complicate it and while the intent is to either get in at a better price, or second guess the market, actually trip themselves up. Boy have i done that a thousand times. A CEO from a Forbes top 40 firm was asked how he became successful. He replied: "By making GOOD decisions." He was then asked" how do you learn to make Good decisions?". His reply ( and i smile at this) is: "By making a lot of bad ones and learning from them:" That mirror our journey to discover how WE can successfuly and consistantly trade and be proftiable the FOrex market doesn't it.

Good trading...

Jim
  • #12,418
  • Oct 7, 2011 1:34am Oct 7, 2011 1:34am
Hi guys

Just want to say the weekend is here and hope you guys have a good 1.
I don't trade on Fridays lol so I have a 3day long weekend (living the dream). If you a full time trader you should consider this because you should enjoy life as well, get some time away from that screen and all those charts .

Ending of the week with an excellent note:
Total pips for the week > 577 pips (starting of a very good month)
X-man the legendary conqueror of markets
  • #12,419
  • Oct 7, 2011 1:52am Oct 7, 2011 1:52am
Quoting X-Man
Hi guys

Just want to say the weekend is here and hope you guys have a good 1.
I don't trade on Fridays lol so I have a 3day long weekend (living the dream). If you a full time trader you should consider this because you should enjoy life as well, get some time away from that screen and all those charts .

Ending of the week with an excellent note:
Total pips for the week > 577 pips (starting of a very good month)

^^^
Excellent result. I can only aspire to that level at the moment.

Back at the beginning of September you were saying that you were thinking of taking up trading to make a living and asking whether this would be a good idea.

I have worked a business from home for the last 8 years, like alot of small businesses times have been tough so I'm working to replace this activity with f/t trading. I have to say i'm finding it a very big challenge indeed.

based on that performance it looks like you could be building an account rapidly and drawing off money to live on. Perfect!

Have you now taken the plunge and moved over to trading full time with meaningful money?
  • #12,420
  • Oct 7, 2011 2:49am Oct 7, 2011 2:49am
Thanks Gamekeeper

It was a tough choice at the beginning of September , I had the option of working in an audit firm or becoming a full time trader.
And yeah I took that plunge of becoming a full time trader and its been really successful thus far because I enjoy it, I love trading and have this passion for it, its all because of TMS thanks to big E. i'm glad I found this trading system just in time otherwise i would've been working in some audit firm and the boss crapping on my head every now and then. NOW I AM THE BOSS.
I take trading as a serious business and not some get rich quick system, i'm slowly building my capital. Trading with strict rules and a trading plan.
I am on a mini account , when I find excellent setups I take a standard lot if the set up are alright i take 5 mini lots. I feel that micro lots will make me chase too many pips where as a standard lot gives me contentment.
For now I don't withdraw any funds from my account thats my plan for 1year. After that I will be able to take 5 standard lots with a risk of 2%, thats the only time I will take a my monthly salary package ( the fruits will be ripe and juicy) >

I wish you all the best with your trading and wish you many pips in the future. Just be confident and build your edge with TMS, it will take you a long way.
X-man the legendary conqueror of markets
65 traders viewing now, 3 are registered:
,
cxxhndr
,
numcaps