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Trading Made Simple

  • #13,101
  • Oct 31, 2011 4:02am Oct 31, 2011 4:02am
Hellow people..... eur/usd had a nice H4 move today
please tell me weather i could have ridden is a little more and come out too quickly....

thankyou
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  • #13,102
  • Oct 31, 2011 4:12am Oct 31, 2011 4:12am
Hi everybody,
first thanks for all members who make this thread live.

Could you please confirm my position on EURUSD and GBPUSD 1H.
I enter long on those 2 trade at the open of the last candle.
I enter on those as bounce trade.

Thanks for your answer
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  • #13,103
  • Oct 31, 2011 4:16am Oct 31, 2011 4:16am
Technically this looks like a great setup for long on eu H1.
Although the .4020 is close and could be resistance I guess.
Also not sure that the down move has exhausted itself... Any thoughts?
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  • #13,104
  • Oct 31, 2011 4:45am Oct 31, 2011 4:45am
I don't see that MichaelSimon
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  • #13,105
  • Oct 31, 2011 5:41am Oct 31, 2011 5:41am
Quoting cajun
My short eur/usd carried over from Friday hit TP during the night, i lucked off on that one.
What TF and how many pips was your SL & TP, I'm still running on the 4H from late Thu and have 104 pips locked in with my SL @ 1.4050. Not meaning to brag but wonder if I should take half profits and let the rest run.
  • #13,106
  • Oct 31, 2011 6:10am Oct 31, 2011 6:10am
Quoting Britpip7
Sorry, unless PA supports the talking heads ........
Thanks for sharing that. Sometimes you just have to laugh at the predicaments us humans get ourselves into. Truly sad, but laughable....
  • #13,107
  • Oct 31, 2011 6:28am Oct 31, 2011 6:28am
Quoting student dll
Guys, who tried to test the strategy on historical data?
If you mean automated testing using something like MT4's Strategy Tester, I was going to try that, but it would require writing an EA and that is something Big E has advised against. The reason is that even though the prime trigger for taking trades is the TDI, it is not the sole trigger. And the supporting triggers, or confirmations are rather subjective and difficult, if not impossible, to hard code in an EA.
So in the end I chose to back test just running the charts manually and eyeballing entries and exits. In my opinion a much more fruitful process for two reasons. The first is that it yields the results I was looking for originally, and second, and more importantly, has taught, and is still teaching, me how this strategy works.
  • #13,108
  • Oct 31, 2011 7:10am Oct 31, 2011 7:10am
I tested and it did not work
Your Personal Forex Companion + Forex Program Developer + Forex Mentor
  • #13,109
  • Oct 31, 2011 8:24am Oct 31, 2011 8:24am
Quoting piprac
What TF and how many pips was your SL & TP, I'm still running on the 4H from late Thu and have 104 pips locked in with my SL @ 1.4050. Not meaning to brag but wonder if I should take half profits and let the rest run.
4H TF and SL100 TP25, I opened this trade early Friday with no TP but when i went to bed last night i set a 25TP. I should have let it run with no TP would have made more but i'll take it and wait for the next round.
  • #13,110
  • Oct 31, 2011 9:45am Oct 31, 2011 9:45am
Quoting cajun
4H TF and SL100 TP25, I opened this trade early Friday with no TP but when i went to bed last night i set a 25TP. I should have let it run with no TP would have made more but i'll take it and wait for the next round.
No sure about a 1:4 ratio - risking 100 to gain 25?

I can see adjusting your SL to protect profit but unless you are looking at a minimum of 1:1 this is dangerous.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,111
  • Oct 31, 2011 9:46am Oct 31, 2011 9:46am
Quoting master1234
I tested and it did not work
OK - what did you test and what did not work?
"To live with Passion, it takes Courage and Grace to survive"
  • #13,112
  • Oct 31, 2011 9:49am Oct 31, 2011 9:49am
Quoting student dll
Guys, who tried to test the strategy on historical data?
Is that the best question to ask considering we have over 13,000 replies that you could have read?

try reading some of the attachments and try another question.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,113
  • Oct 31, 2011 10:33am Oct 31, 2011 10:33am
If you want to know the back testing results:

On your MT4 Platform
1. Switch off "Auto Scroll" and "Chart Shift"
2. Select pair / time frame of your choice - H1 / H4 / Day
3. Depress left arrow key and hold for 5 seconds
4. At whatever date the chart stops - Eyeball charts and look for set-ups / patterns according to Big E's charts
5. Repeat process using the F12 key and this will step through 1 candle at a time
6. Refine / Repeat / Retest and document results

As far as what the averages are showing on the charts (TDI / 5EMA, etc. - this will show you the historical charts and reflects the closing candle position - base your testing results off of closed candles and verify your entries accordingly.

If you are running with Fractals, switch these off for initial testing - tends to colour your judgement when you can see that this is a H/L candle!
"To live with Passion, it takes Courage and Grace to survive"
  • #13,114
  • Oct 31, 2011 11:01am Oct 31, 2011 11:01am
Quoting student dll
Guys, who tried to test the strategy on historical data?
you can try with this tool and strategy tester.... it's a little slow loading tms template but it works and you can try manual trading on historical data.
Attached File(s)
File Type: zip Tradingsimulator.zip   491 KB | 733 downloads
  • #13,115
  • Oct 31, 2011 11:15am Oct 31, 2011 11:15am
Quoting Britpip7
No sure about a 1:4 ratio - risking 100 to gain 25?

I can see adjusting your SL to protect profit but unless you are looking at a minimum of 1:1 this is dangerous.
d

I agree, i usually don't trade this way but i had a gut feeling that it wasn't going to hit SL during the night, it was in consolidation all day and i was hoping it would have continued till morning, that is why i also set my TP low in case of a downward move then i could get out of the trade or control the trade when i got up.

Thanks anyway, i do understand what you are saying.
  • #13,116
  • Oct 31, 2011 1:14pm Oct 31, 2011 1:14pm
Quoting cajun
...i usually don't trade this way but i had a gut feeling ... and i was hoping ...
Do you see the conflict between the content of your note and your tag line?
Just my humble opinion, but the reason we have trading plans is so that we always trade the same way until we have proof (not a gut feeling) that the plan is in error and we have a proven solution to fix it...As for hoping that's for 10 year old kids at Christmas.
Good Luck.
  • #13,117
  • Oct 31, 2011 1:54pm Oct 31, 2011 1:54pm
Quoting funwithbux
Do you see the conflict between the content of your note and your tag line?
Just my humble opinion, but the reason we have trading plans is so that we always trade the same way until we have proof (not a gut feeling) that the plan is in error and we have a proven solution to fix it...As for hoping that's for 10 year old kids at Christmas.
Good Luck.
Thanks for the heads up, you are absolutely correct and i do see the conflict, shame on me. I have only been using this system for 3 months and have made money when i follow the rules and employ good money management.
I suppose sometimes there's a little daredevil in us and we take chances only to find out that it will get us in trouble. This time i made money on chance, next time it could be a disaster.
So thanks for helping to keep my head straight and sticking to the rules of the system.
  • #13,118
  • Oct 31, 2011 3:13pm Oct 31, 2011 3:13pm
Quoting mikiantony
Hi Phx62

Id be interested to know how you dealt with/dealing with the signal this morning.

I xited -30

miki
I took a long trade at the London Open....it continued in that direction for about 20 pips and then reversed. I exited with a loss of 11 pips and went back to bed. I have found that normally when the Asian session makes a strong move (last Thursday was an exception because the EU was ranging for several days) the London usually does not move much. I see that there was a trading opportunity during the last hour of London that would have garnered 100+ pips but I was at work and not monitoring the screen. Better luck tonight!!
  • #13,119
  • Oct 31, 2011 3:38pm Oct 31, 2011 3:38pm
Just a fast note. I have been reading all of the posts again just
to refresh my memory.

The way I'am trading now is I only trade with average price bars and
the tdi. I've been trying to really learn price movement so I've
removed the 5 ema +2 and the stochastics so I have no distractions
at all.

snarlyjack
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  • #13,120
  • Oct 31, 2011 4:30pm Oct 31, 2011 4:30pm
Quoting snarlyjack
Just a fast note. I have been reading all of the posts again just
to refresh my memory.

The way I'am trading now is I only trade with average price bars and
the tdi. I've been trying to really learn price movement so I've
removed the 5 ema +2 and the stochastics so I have no distractions
at all.

snarlyjack
Very interesting, pls keep us posted as to how it is going for you. Someone quite a few pages back posted a chart with just HA candles and the TDI indicator and BigE says stochs are for confirmation but no need if PA is showing a trade. Not quite there myself.
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