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Trading Made Simple

  • #13,121
  • Oct 31, 2011 8:09pm Oct 31, 2011 8:09pm
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.
Although you may be correct in regards to our attempts to mechanically trade, it is naive to think that you can simply spot a signal and take the trade the same way every time. THe forex market is dynamic. It would be foolish to simply trade the exact way every time. AS much as it makes it easier and less emotional to trade, a trader stull must use his intuition and judgement in his overall understanding of how the market flows. THis is exaclty why the results from this "simple" method of trading vary so greatly. So whilst its good mechanising and simplifying your trading methodology, dont for one minute think that it wil allow you to leave your judgement out of it. The market move differently every day, every news release, every bank intervention....your mechanical plan wont cope with all of these issues the same way. You have to move and adapt to the market.
  • #13,122
  • Nov 1, 2011 12:04am Nov 1, 2011 12:04am
Short taken at 1.6052, bounce.
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  • #13,123
  • Nov 1, 2011 12:13am Nov 1, 2011 12:13am
Following big E rules

GU-H4 10 PM Candle

Short at 1.6046
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  • #13,124
  • Nov 1, 2011 12:14am Nov 1, 2011 12:14am
Quoting geosanuy
Short taken at 1.6052, bounce.
About a 45 min. trade before LON shakes the tree the other way, maybe 40 pips.
  • #13,125
  • Nov 1, 2011 12:51am Nov 1, 2011 12:51am
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
In your expert opinion, do you really think that the Synergy APB candles are suited to watching the real Price Action?

As seen in the screenshots, this type of candle fills in where price never was; also make any backtest using these totally useless IMHO, your thoughts?

New video by Dean Malone, good explaination for last few weeks on the EUR-USD price action doldrums --->

http://www.compassfx.com/video/flash/103111/103111.html
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OPPORTUNITY IS NOWHERE
  • #13,126
  • Nov 1, 2011 2:36am Nov 1, 2011 2:36am
Quoting geosanuy
About a 45 min. trade before LON shakes the tree the other way, maybe 40 pips.
Closed @ 1.6011 +41 pips.
  • #13,127
  • Nov 1, 2011 6:02am Nov 1, 2011 6:02am
Guys good trade setup for AUD/USD and GPB/USD.... have a look
  • #13,128
  • Nov 1, 2011 7:30am Nov 1, 2011 7:30am
Quoting sifyragnarok
Guys good trade setup for AUD/USD and GPB/USD.... have a look
have a look


see my 3 amigos, expect some resistance at 1.59 on GBP
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OPPORTUNITY IS NOWHERE
  • #13,129
  • Nov 1, 2011 7:45am Nov 1, 2011 7:45am
Quoting geosanuy
Closed @ 1.6011 +41 pips.
sorry for your loss, tried to capture 1.5911 in the picture for you

(Chapter V) … “And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”

Be Right and Sit Tight! Marvel at Jesse Livermore at his finest! Like so many great truths in life this is so simple to understand, but so incredibly difficult to actually act out and walk the walk. So much of speculation really boils down to patience, that extraordinarily difficult trait to acquire. Do your research, determine the primary trend, deploy your positions, and then just hurry up and wait.

http://www.zealllc.com/2003/jesse06.htm

Let's see where the GBP-USD tomorrow...
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OPPORTUNITY IS NOWHERE
  • #13,130
  • Nov 1, 2011 8:09am Nov 1, 2011 8:09am
Quoting Callisto
have a look


see my 3 amigos, expect some resistance at 1.59 on GBP
What indicator are you using in the upper left of your chart. I'd love to get my hands on it. Cheers.
  • #13,131
  • Nov 1, 2011 8:18am Nov 1, 2011 8:18am
Went short the EU on the 15m earlier, but when the TDI Hook occured on the next candle I made the decision to stay in the trade. Fortunately, it was only a pause and the trade hit my target two candles later. But looking at the TDI should this have been a closed trade according to the method?
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  • #13,132
  • Nov 1, 2011 8:54am Nov 1, 2011 8:54am
Using the TDI hook to close trades isn't very reliable, you're better off just looking at PA for closing your position or trailing your SL.
  • #13,133
  • Nov 1, 2011 8:55am Nov 1, 2011 8:55am
Quoting FXSurf
Went short the EU on the 15m earlier, but when the TDI Hook occured on the next candle I made the decision to stay in the trade. Fortunately, it was only a pause and the trade hit my target two candles later. But looking at the TDI should this have been a closed trade according to the method?
Well, if you are very conservative you should, also looking at divergence on TDI .... BUT EUR is mainly driven by Greek parlament today, look at the TDI level on 1H- it is 13 now and still going down. So I think we have to wait for their decision , and maybe we will have pullback....or Euro 'll be dead
  • #13,134
  • Nov 1, 2011 9:05am Nov 1, 2011 9:05am
Thanks for the response. Looks like a new entry EU long at this time based on the TDI, Stochastic & HA Candles..?
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  • #13,135
  • Nov 1, 2011 9:26am Nov 1, 2011 9:26am
Quoting tjdowns
What indicator are you using in the upper left of your chart. I'd love to get my hands on it. Cheers.
Closer than you think... right here on FF

http://www.forexfactory.com/showthre...71#post2242871

and welcome to FF by the way

both are excellent indicators
OPPORTUNITY IS NOWHERE
  • #13,136
  • Nov 1, 2011 9:36am Nov 1, 2011 9:36am
Three H4 trades for today as per Big E rules. Trades opened at 10PM and closed at 6AM (Pacific).

GU: +147

GJ: +122

UCAD: +155 (Bounce Trade)
  • #13,137
  • Nov 1, 2011 9:37am Nov 1, 2011 9:37am
Quoting FXSurf
Thanks for the response. Looks like a new entry EU long at this time based on the TDI, Stochastic & HA Candles..?
given it has travelled 260 pips today already, US stockmarkets open about 1 hour now, yes, there will be a bounce for sure, I got out by the way

ADR is 216 last 5 days, was 343 yesterday, this pair moves more than GBP-JPY now except that did 544 yesterday
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OPPORTUNITY IS NOWHERE
  • #13,138
  • Nov 1, 2011 9:41am Nov 1, 2011 9:41am
Callisto
Quote
Be Right and Sit Tight! Marvel at Jesse Livermore at his finest

It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

Thanks for posting this. I have kept that very quote within view for the last 4 years. I must read it 100 times a day. So simple and yet so critical and published in 1923!

As usual, posting some great trades and chart examples as well.

All the best.

dcginc
  • #13,139
  • Nov 1, 2011 10:08am Nov 1, 2011 10:08am
I'm out - based on the color change on HA candles, TDI hook and a turn over on stochastics. Two profitable entries on the 15m this morning, short then long.
  • #13,140
  • Nov 1, 2011 10:43am Nov 1, 2011 10:43am
Quoting Callisto
Closer than you think...

and welcome to FF by the way

both are excellent indicators

Thanks for the welcome. Man! It took me 3 days to read from page 1 to where I'm at now. Unbelievable thread! As a noob, I've been here, there and everywhere gathering crumbs, being fed good info, bad info and everything else. This site and in particular this thread, have given me more in 3 days than I've gathered in the past 3 months from the web, books and webinars combined.

My sincerest thanks to you and everyone else for sharing. Cheers!
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