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Trading Made Simple

  • #12,461
  • Oct 10, 2011 10:22am Oct 10, 2011 10:22am
some nice trades there, keep up the positive pips!
  • #12,462
  • Oct 10, 2011 10:33am Oct 10, 2011 10:33am
I'm still in this trade.
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  • #12,463
  • Oct 10, 2011 10:39am Oct 10, 2011 10:39am
Followed the daily trend up this morning at 7am (GMT+1).
Trailing stop took the trade out at +80.
Could've hit +200.
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Financial independence is what I live for
  • #12,464
  • Oct 10, 2011 11:16am Oct 10, 2011 11:16am
can anyone tell me what time frame does this method works the best
  • #12,465
  • Oct 10, 2011 11:28am Oct 10, 2011 11:28am
Quoting Spacetec
can anyone tell me what time frame does this method works the best
i have tested this on daily, 4h and 30min. All 3 work well.
  • #12,466
  • Oct 10, 2011 11:43am Oct 10, 2011 11:43am
Im up like 200pips on a daily trade right now so this tf frame seems to work.I also made some pips on a 15 minute chart this morning
  • #12,467
  • Oct 10, 2011 12:27pm Oct 10, 2011 12:27pm
Quoting x58
Is this is talking about Big E System? My god, why you bringing your trash to Big E treat. Go out! This is Big E system.

Not sure what your problem is seeing as we are not posting anything.

Try reading what was requested and from whom before firing off such attacks.
"To live with Passion, it takes Courage and Grace to survive"
  • #12,468
  • Oct 10, 2011 4:05pm Oct 10, 2011 4:05pm
Quoting X-Man
I wouldn't say how many candles must form for a reversal, When you see that happening on the daily chart its a good idea to pull out your fibb tool because its a retracement. Retracements happens all the time, so I would pull out my fibb take a long trade and set my tp at the 38.2% level on the fibb. If you go to the A/U daily you will notice that level was hit and all those pips would be yours. The other levels are the 50% and the 68% but I always set it on the 32% because that has a higher probability of been hit on a higher TF. If you on a lower...
My preference is to verify a trend change when the higher timeframes confirm the move, so a reversal pattern on the H4 would be a trend change when the day chart confirms the move. I will take a trend change with TDI confirmation.

I currently track this using the TMS-OSC Histo 3TF which can be found in the attachments section - I have included one of my chart set ups - What I am seeing is that once you have H4 and Day at the same colour, the probabilities increase and you can use the TDI on a bounce for entry and this will often tie in with a Fractal break.

Current tests are looking for add-on opportunities which will use the TDI bounce and Fractals for setting up.
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"To live with Passion, it takes Courage and Grace to survive"
  • #12,469
  • Oct 10, 2011 4:12pm Oct 10, 2011 4:12pm
Quoting ananjee
I'm still in this trade.
Nicely done on pro-actively managing your SL.

Watch out on the upper wicks as they are now reducing and TDI is above 68.

Try to not to give back more pips than you need to on this one - I also track the Stochastic on 8-3-3 to see whether it is rolling over and this will generally support the TDI as it flattens.

Best of luck in farming some more pips on this one. Nice commentary on the chart.
"To live with Passion, it takes Courage and Grace to survive"
  • #12,470
  • Oct 10, 2011 4:15pm Oct 10, 2011 4:15pm
Quoting ananjee
i have tested this on daily, 4h and 30min. All 3 work well.
thnx for the input ,I like the idea of higher tf
  • #12,471
  • Oct 10, 2011 7:21pm Oct 10, 2011 7:21pm
Quoting Britpip7
Nicely done on pro-actively managing your SL.

Watch out on the upper wicks as they are now reducing and TDI is above 68.

Try to not to give back more pips than you need to on this one - I also track the Stochastic on 8-3-3 to see whether it is rolling over and this will generally support the TDI as it flattens.

Best of luck in farming some more pips on this one. Nice commentary on the chart.
Thanks for the encouraging words Britpip7. I'll be on a look out for the best exit opportunity. I was beginning to see that as well (upper wicks reducing).

Thanks for the feedback.
  • #12,472
  • Oct 10, 2011 8:38pm Oct 10, 2011 8:38pm
Quoting Spacetec
can anyone tell me what time frame does this method works the best
Go page one and if you finish, you will not ask this question.
  • #12,473
  • Oct 10, 2011 8:45pm Oct 10, 2011 8:45pm
Most terrible thing is :
1. Question witch one already are answered - start read from page 1 and if you end with page 831 you not ask question, because they are answered already.
But there are people, who are layzy to read and don't understand anything, so GO PAGE 1 AND READ TO LAST PAGE AND YOU DON'T HAVE PROBLEMS WITH KNOWING EVERYTHING.
Good luck , no future question - read yourself.
  • #12,474
  • Oct 10, 2011 8:52pm Oct 10, 2011 8:52pm
Quoting Spacetec
can anyone tell me what time frame does this method works the best

According to the author this system works best with daily, and 4 hours charts.
But he uses also 1 hour timeframe during New York session.

Regards
Indicators always obey Price, not the other way.
  • #12,475
  • Oct 10, 2011 9:40pm Oct 10, 2011 9:40pm
Quoting ananjee
I'm still in this trade.
Nice job Ananjee!!!! Keep up the good work!
I got some of those pips on the H1 time frame at the London Open this morning following news of the French & German banks shoring up the expected Greek default. Hit the 200 pip TP on a bounce trade. Almost did not get there but I still would have taken 160 trailing behind the previous candle. I like the 200 pips better.
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  • #12,476
  • Oct 10, 2011 10:09pm Oct 10, 2011 10:09pm
Quoting Britpip7
Dean - spot on mate.

As part of my backtesting I ran all of of the test rades in the spreadsheet so that I could adjust the numbers and test out differing %s for risk reward / SL / TP, etc. Running the back tests doesn't take that long really, so maybe an hour or two for each pair going back to the start of the year - however, adjusting the spreadsheet, adding columns for additional data and getting all of the information set up and re-running the numbers was critical and took weeks.

Then comes the trading plan followed by another batch of...
I see the Term ATR thrown around a lot on this thread, but im not sure what it is other than some sort of Auto SL/TP? could someone explain this one to me? and if it is a indicator/EA where i could get it?
  • #12,477
  • Oct 10, 2011 10:27pm Oct 10, 2011 10:27pm
Quoting courtz
I see the Term ATR thrown around a lot on this thread, but im not sure what it is other than some sort of Auto SL/TP? could someone explain this one to me? and if it is a indicator/EA where i could get it?
Average Trading Range - this is dynamic average indicator for the time frame that you are watching - mine is set to take 7 periods for the averaging - thanks to dcginc for that. Used for setting up TP and SL as opposed to fixed # of pips.

The indicator is called ATR Pips UL Corner - it will be in the attachments section.

Read up on dcginc's posts as he posted some excellent information.
"To live with Passion, it takes Courage and Grace to survive"
  • #12,478
  • Oct 10, 2011 10:51pm Oct 10, 2011 10:51pm
Quoting courtz
I see the Term ATR thrown around a lot on this thread, but im not sure what it is other than some sort of Auto SL/TP? could someone explain this one to me? and if it is a indicator/EA where i could get it?
ATR = Average True Range. The average of the movement of the price over a specified number of candles. Use BabyPips to learn about this, it's a basic part of forex and this system works best if you understand the basics.
  • #12,479
  • Oct 10, 2011 11:12pm Oct 10, 2011 11:12pm
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Quoting X-Man
Well Geges if you look at TDI on the 4hour chart you will notice that it hasn't reached the 68 zone yet. its just under the 68 zone > then when you go to daily you will see TDI in the 32 zone which means that there will most probably be a bounce on the 4 hour chart which will allow the TDI to go int the 68 zone. so to wait until its in the 68 zone will be a better option.
Hope this has helped to some extent
I have learnt this by loosing a good few pips.
Maybe tonight price break the MA and TDI @ level 68 to go short.

Thank you for the tip X-Man...a little insight goes a long way
  • #12,480
  • Oct 11, 2011 12:26am Oct 11, 2011 12:26am
Thanks guys.

have done the babypips thing, i just forgot the acronym.

will check out the indicator
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