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Trading Made Simple

  • #13,021
  • Oct 27, 2011 11:45pm Oct 27, 2011 11:45pm
Quoting Callisto
Here it is for you, I don't agree with the need to READ THE WHOLE THREAD concept however, check out 4-Hour MACD thread method to see how a thread can be keep up, with method completely explained in a few posts, but whatever floats your boat.

Here is a tip for you though, set your Display Options to 40 posts per page and you will have fewer pages to read

And there should be a TOP 10 LIST -
1. What time does Big E trade this method?
2.
3.
4.
5.
6.
7.
8.
9.
10.
And there should be a TOP 10 LIST -
1. What time does Big E trade this method?
2. What pairs does big E trade
3. How many candles after TDI can I enter
4. How do I load an indicator in MT4
5.What indicators are used?
6. How many pips have you made on this system
7. You must show me your account
8. Send me your template files
9. Can this be written as an EA?
10. how do you determine SL and TP levels?
"To live with Passion, it takes Courage and Grace to survive"
  • #13,022
  • Oct 28, 2011 1:12am Oct 28, 2011 1:12am
Hi guys

Firstly i want to apologize to those guys who didn't manage to get in the skype room because its packed to capacity and to those guys who i didn't reply to because my PM inbox is Full.
1000 apologies
I made some bad calls this week because i didnt follow my trading plan (was looking at the 15m and 1H charts).
Its sooo crucial to follow a strict trading plan and this took my edge of and out of the zone.

Weekly report

Total pips won for the week = 60
total pips lost for the week = (211)
total pips for the week = (151) (8 Trades)

Monthly report
Total pips for the month 1249

Next week i'll be back in the zone , i slapped myself and read over my trading plan 3 times again.

People will lose hope when they see the amount of pages they have to read on this thread if tey decide to read everything.
My recommendation is to study the vital stuff by going through every page but not reading every post:
Read and study the posts of Big E, Snarly jack, numbers, Dingc, britpip7 , 2scoops, dean.

This would be alot faster and effiecient. You can go through 100 pages in a day if you only look for those posts page by page.
Hope you guys have a good weekend and take care.
X-man the legendary conqueror of markets
  • #13,023
  • Oct 28, 2011 1:20am Oct 28, 2011 1:20am
Quoting X-Man
Hi guys

Read and study the posts of Big E, Snarly jack, numbers, Dingc, britpip7 , 2scoops, dean...You can go through 100 pages in a day if you only look for those posts page by page.
And X-Man of course. Also, in case anyone doesn't realize, you only have to find one post by a person & click on the name. The profile will come up; click on where it shows how many posts that person has made, & the posts will come up without having to hunt through pages.
My favorite crochet hook is size J. It's a J-Hook!
  • #13,024
  • Oct 28, 2011 2:09am Oct 28, 2011 2:09am
Quoting littlebunny
And X-Man of course. Also, in case anyone doesn't realize, you only have to find one post by a person & click on the name. The profile will come up; click on where it shows how many posts that person has made, & the posts will come up without having to hunt through pages.
Thats what i did.I dont think its mandatory to read the whole thing.Just read all of eelfranz,dean,snarly jack,the guy with the eagle avatar and brit pips posts and attachments.
  • #13,025
  • Oct 28, 2011 3:17am Oct 28, 2011 3:17am
Guys Im sorry for the long rant, it was late and I was frustrated.
I agree that for most, it may not be the quickest, easiet path to go through every post but;
Piprac pointed me in the right direction, as I said - to read thoroughly up till about page 200 (post 2900 or so) and then skim ahead to page 650-700 for more good insight.
Obviously, if someone reads the first 20 pages and finds himself fully understanding the system then great. But if you find yourself still asking questions about THE GROUND RULES of the method, then you need to keep reading.
Also to be honest. I understood the rules just fine fairly quickly, and yet, even when I was full of confidence, made some really (in hindsight dumb) bad calls.
What helps is posting your entries/exits with your reasons and putting yourself up for scrutiny.
The great thing is that there are many people as have been mentioned, that will reply in depth with no other reason than to help you.

One more thing - and I realize the experience will vary from person to person. But the huge value I got from reading the posts, wsa not a deeper understanding of this methods rules, but the HUGE insight into the posters mindset and guidlines that must be used to SUPPORT this great edge and make it actually work.
After all, this method is an edge, and must be used in tandem with supporting basic understanding of the markets and especially the whole concept behind trading as basically a form of gambling with an edge.
Anyone that finds that last statement strange or wrong or simply not 100% clear, should start by reading Trading in the zone, by Mark Douglas (has been mentioned many times) and really understand the basics before moving ahead.

It doesnt matter how good your edge is, if you dont put it to the proper use, then you may as well not be using it, and then youre back to rolling dice.
A couple months ago I didnt know forex from a hole in the wall. Point is that reading through this thread will lead you to so much information and insight that will blow your mind, besides the basic methods rules. And this insight and background info and true acceptance of the bigger picture IS what will make the difference of long happy green pipping, or total anguish and frustration.
It's not got to do with the edge itself, as we all know by now thats its a valid, working edge. It's about how you used the edge in the market.
how you use the edge depends in a great deal, or solely even I would say,
on you, and the level of self discipline and emotional control you are capable of.
Sorry again for making this thread longer with non specific trade info, but I hope this may provide some insight to the new ppl that may need that little push to the other side of things. I am still enough of a newbie to not have forgotten this crucial stage.
  • #13,026
  • Edited 3:45am Oct 28, 2011 3:26am | Edited 3:45am
Oh and of course one of the first things is to read the pdf "Trading made simple".
It really sums up the important points and points to alot of quality insight in the thread itself.
I had it saved for a month and didnt open it at first cos I wanted to read the posts in chronological order, but I should have. Try it.
Download it from the attachement list or from the post by Numb3rs here:
http://www.forexfactory.com/showthread.php?t=292285

Hope this helps.

Edit: Also make sure to read my earlier posts in order to learn what NOT to do. You will see how breaking the basic TMS rules will guarantee failure.
One thing I was doing ans quit - was trying to anticipate the setups. I was forcing trades. Meaning if I didnt see a valid setup on the h4 for example, I'd start flipping back and forth between tf's (it makes sense when youre a newb) trying to find something that I could get in on, just to be in the market. BIG MISTAKE. Im certain some of us are doing this, and its baaaad.
Patience is the name of the game, and knowing when NOT to pull the trigger is of utmost importance (has been said many times in many ways).
Just thought someone could learn from my mistakes.
  • #13,027
  • Oct 28, 2011 3:46am Oct 28, 2011 3:46am
Quoting X-Man
Hi guys

Weekly report

Total pips won for the week
...
Next week i'll be back in the zone , i slapped myself and read over my trading plan 3 times again.

People will lose hope when they see the amount of pages they have to read on this thread if tey decide to read everything.
My recommendation is to study the vital stuff by going through every page but not reading every post:
...
x-man, well done for keeping it honest and real, shows you are a cut above many and supports you will be back on track without delay. I have been trading FT 8 years now and still re-read my trading plan and the notes from my last few days trading log each morning to keep myself on track (took a while for me to accept this would be of value but the results of doing this simple task were almost immediate).

I have attached a link to a little tool that I found on the web a long time ago (after a LOT of searching), it will help to extract the vital stuff - the title says it all.

How to sort posts by member in mega threads
http://www.cemexangling.co.uk/forums...d.php?t=144757

If anyone bothers following through on the download and install they will find the instructions slightly our dated as the "username" part was removed in the available version. It creates files for all posters, and you just keep the ones you want.

I eventually found it on an angling thread placed by a J16 member and it's not supported, but I found it a useful utility.

During my trading day, I frequently copy the HTML output to my PC clipboard and have a text to speech reader (many free on the web) read the clipboard out to me, it keeps me refreshed on the thread basics while allowing me to multi task and keep my eyes on the charts.

Take care
wash, rinse, spin . . . repeat
  • #13,028
  • Oct 28, 2011 3:58am Oct 28, 2011 3:58am
Hi, friends! I am very interested in electronic trading systems. And willing to share what I know. Do not judge me harshly. I'm new here. But long ago I know this great forum.
  • #13,029
  • Oct 28, 2011 4:10am Oct 28, 2011 4:10am
Quoting tic

I have attached a link to a little tool that I found on the web a long time ago (after a LOT of searching), it will help to extract the vital stuff - the title says it all.

How to sort posts by member in mega threads
http://www.cemexangling.co.uk/forums...d.php?t=144757
Inspired work Tic. I'm always looking for little gains in efficiency like this. Like blocking the people that dribble (somtimes like me). The problem I generally find then is when the good posters refer to posts by those blocked.

X-Man, you're too hard on yourself. I love your work. It's funny, you post a number of members whose advice you look for. This is the first system I've really felt is for me. Beside me right now is a notepad with list of members whose posts I search for specifically within the TMS/5 Method/Chis Harris Stoch threads. You are currently on that list with less than 10 others. Congrats for making the cut.

Britpip, you're on the list too. Loved a couple of your latest posts as it shows how the rule set I'm presently formulating is scarily close to yours.
Everyone's got a plan until they get punched in the face
  • #13,030
  • Oct 28, 2011 4:14am Oct 28, 2011 4:14am
Quoting Britpip7
It is quite amazing what you will see when you spend enough time in front of charts running backtests and then live testing.

I kept seeing the fractals and then would see additional moves after I had left a trade. It apearead that this worked on all time frames, but obviously with less frequency on the H4 and Day, although the pip quantities made up for the lack of entry opportunities. It looked great on back testing!

I always saw posts from the 100 / 200 / 300 club and could never crack it

Now I have proven to myself that it can be done...
Excellent post, thanks. Its really good to read that.

Totally agree re thanking BigE and DGINC. Its just a great pity that they are virtually absent from the thread these days. As a trader looking to make a living at this i miss their focused and inspirational contributions. Their willingness to share their experience born from 1000's of hours of screen time was something very valuable indeed.
  • #13,031
  • Oct 28, 2011 4:29am Oct 28, 2011 4:29am
Hi all,

Thanks for creating this thread and sharing the knowledge.

Im cutting losses slowly from my previous shorts at aud / usd and eur / usd.

And then im going back to demo account to practice using malone's ideas (like his different indicators to confirm trend is correct) and ideas from this thread.

Any1 has the templates for oanda (the volatility band and price action channel is what im lacking).

Many thanks and i will update here if there's any success.
  • #13,032
  • Oct 28, 2011 6:05am Oct 28, 2011 6:05am
Britpip7
Quote
I always saw posts from the 100 / 200 / 300 club and could never crack it

Now I have proven to myself that it can be done and done on a regular basis.

This month I have 4 trades above 140 pips - 2 of these are 200 pips +

Traders,

The subject of the above post is the successful evolution of a committed trader.

You must make the transition from the nervousness of closing trades for minimal profit to the relaxed intensity of following a plan and pulling in profits of over 200 pips. This statement above is a defining moment.

This is a huge psychological jump that all professional traders have made at some point. This reinforcement of belief will be the single most important factor in your trading success. Once this mindset is achieved, trades and profits of this magnitude will become the “new normal.”

You have seen charts posted on this thread from traders holding positions of over 500 pips. I am sure you ask yourself how these traders can develop the discipline to hold such a position. They expect the trade to take time, they anticipate the draw downs and they accept the risk. To get to the point where a 200+ pip trades become normal, you must get out of your own way and let go. How do I know? This same realization occurred to me and my fellow professionals. The less you impose your will, the more you will profit.

Great to see the moment when the hard work pays off.
  • #13,033
  • Oct 28, 2011 6:26am Oct 28, 2011 6:26am
I was going to post my sentiment regarding the amigos towards the weeks close, but I realize that would probably benefit mostly me, by getting feedback and insight from you guys. So instead, here is what I think is some straight forward, easy to understand, and insightful thoughts on E/U and A/U from Dean Malone. That would most definitely benefit all of us, who haven't seen it yet.
I assume most of us are frequent at this page. It is always open in my tabs. Alot of good stuff there for beginners especially.

I myself am not trading today, regardless of the action, as part of my discipline training. But it really puts alot of the information in line in my head.

Oh and I don't mean his systems of methods. I am not a follower myself, bar the common similarities to TMS. I just like to hear pros speak and he makes things simple.
Anyways: Dean Malone on CompassFX
Hope this is useful.
  • #13,034
  • Oct 28, 2011 6:35am Oct 28, 2011 6:35am
Hey Guys
havent posted here for a while, been busy with a few other things

in 3 trades currently
entry criteria: trade with trend, weekly and daily tdi are congruent, look at H4 and H1 for entry signal via higher low/lower high or double top/bottom with divergence.

hopefully ill have more time to post from now on!
Attached Image (click to enlarge)
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  • #13,035
  • Oct 28, 2011 6:39am Oct 28, 2011 6:39am
Hi X-Man, have tried several times to add you on skype so that i could be a part of the forum. Your skype id is xman101GP. How is it to join the skype chat. Please share. Thanks
  • #13,036
  • Oct 28, 2011 7:01am Oct 28, 2011 7:01am
Quoting djay
Hi X-Man, have tried several times to add you on skype so that i could be a part of the forum. Your skype id is xman101GP. How is it to join the skype chat. Please share. Thanks
Hi DJ,

If you look at the page prior to this one you'll see a post from x regarding the skype room. Apparently it is at capacity.
Everyone's got a plan until they get punched in the face
  • #13,037
  • Oct 28, 2011 7:05am Oct 28, 2011 7:05am
Is is possible to join TMS instead. Hopefully that chat room is not full capacity. Please advs. Thanks
  • #13,038
  • Oct 28, 2011 7:13am Oct 28, 2011 7:13am
X-Man, sorry for your losses this week, but with my +313 this week it really inspires me and gives me the much needed confidence knowing that i did better than a very good trader like you.

Good Luck
  • #13,039
  • Oct 28, 2011 7:20am Oct 28, 2011 7:20am
Quoting dcginc
Britpip7

Traders,

The subject of the above post is the successful evolution of a committed trader.

You must make the transition from the nervousness of closing trades for minimal profit to the relaxed intensity of following a plan and pulling in profits of over 200 pips. This statement above is a defining moment.

[font=Calibri][size=3]This is a huge psychological jump that all professional traders have made at some point. This...
great post and as I can only repeat: the most important factor of trading is psychology (the mental aspect).
  • #13,040
  • Oct 28, 2011 7:33am Oct 28, 2011 7:33am
Quoting Britpip7
And there should be a TOP 10 LIST -
1. What time does Big E trade this method?
2. What pairs does big E trade?
3. How many candles after TDI can I enter?
4. How do I load an indicator in MT4?
5.What indicators are used?
6. How many pips have you made on this system?
7. You must show me your account?
8. Send me your template files?
9. Can this be written as an EA?
10. How do you determine SL and TP levels?
You hit it right on the head there!

Worth repeating and reposting from time to time.

Hey, DGCINC, great to see you posting your excellent advice again, hope you got some of that record pips on the EUR yesterday!
OPPORTUNITY IS NOWHERE
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