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Trading Made Simple

  • #13,241
  • Nov 4, 2011 1:59pm Nov 4, 2011 1:59pm
Quoting FXSurf
.....But demo is different in that you can enter everything that looks decent without any real risk. Put your savings into a brokerage account and things somehow change...
Since my big face-plant, I am currently just trading the EUR/USD on the 15min and/or Hourly TMS setups during 8am to about 2pm EST and have been making about +100 pips a week regularly in a live account without much stress. Anyone who is realistic and knows the forex well will tell you that +100 pips a week is great! I'm not trying to tell anyone to trade one pair or one time...
FXSurf,
I agree with your analysis completely. I have been trading live for nearly a year now...one pair (EU).....one trade at a time.....primarily London session on the H1 TF.....an occasional M15 trade during the NY session....all based on Big E's TMS system....averaging 317 pips per week over the past 4 months....this week 333 pips on 6 H1 trades (chart attached). It has not come easy...lots of chart study, trial & error and learning from anyone willing to teach or share....but it is possible to succeed with this system.
Attached Image (click to enlarge)
Click to Enlarge Name: eu week ending 11-4.jpg Size: 128 KB
  • #13,242
  • Edited 3:42pm Nov 4, 2011 3:30pm | Edited 3:42pm
Thanks Phx62, you were actually my influence when I lost my butt over-trading and had to re-evaluate. Boil it down to the essentials. What do I need to be successful? How can that be achieved realistically? What is my tolerance for loss? Those were the questions I needed to answer. BTW - Good Trading!
  • #13,243
  • Nov 4, 2011 4:38pm Nov 4, 2011 4:38pm
Quoting Phx62
FXSurf,
I agree with your analysis completely. I have been trading live for nearly a year now...one pair (EU).....one trade at a time.....primarily London session on the H1 TF.....an occasional M15 trade during the NY session....all based on Big E's TMS system....averaging 317 pips per week over the past 4 months....this week 333 pips on 6 H1 trades (chart attached). It has not come easy...lots of chart study, trial & error and learning from anyone willing to teach or share....but it is possible to succeed with this system.
Phx62, Idem FXSurf.
Thanks!
Best regards
Oyapoke
  • #13,244
  • Nov 4, 2011 4:38pm Nov 4, 2011 4:38pm
Quoting Phx62
FXSurf,
I agree with your analysis completely. I have been trading live for nearly a year now...one pair (EU).....one trade at a time.....primarily London session on the H1 TF.....an occasional M15 trade during the NY session....all based on Big E's TMS system....averaging 317 pips per week over the past 4 months....this week 333 pips on 6 H1 trades (chart attached). It has not come easy...lots of chart study, trial & error and learning from anyone willing to teach or share....but it is possible to succeed with this system.
Quick question, you just check every hour ? (the screen)
Look at something long enough, you will eventually get it.
  • #13,245
  • Nov 4, 2011 9:55pm Nov 4, 2011 9:55pm
Quoting Phx62
FXSurf,
I agree with your analysis completely. I have been trading live for nearly a year now...one pair (EU).....one trade at a time.....primarily London session on the H1 TF.....an occasional M15 trade during the NY session....all based on Big E's TMS system....averaging 317 pips per week over the past 4 months....this week 333 pips on 6 H1 trades (chart attached). It has not come easy...lots of chart study, trial & error and learning from anyone willing to teach or share....but it is possible to succeed with this system.
I'm sorry if these had been answered before. On your first trade, how did you know to get out with a stoploss of 11 pips? I waited for the candle to close and got out with 40 pips loss. On your second trade, how did you know it was safe to enter the trade when the TDI is below 32? Should you not be looking for buy under 32 and sell over 68? I did not enter this trade because it was too over oversold per the TDI. Do you wait for the candle to close to enter a trade? Do you wait for the candle to close to exit trades regardless if you're in profit or in a loss? Do you set your SL and TP for every trade ie: 11 pips SL and 100 pips TP? It seems like you do not follow the daily trend. Have you always been successful with trading against the daily trend? How much do you risk each trade? Thank you for your patience.
  • #13,246
  • Nov 4, 2011 11:17pm Nov 4, 2011 11:17pm
Quoting x58
Nice do see , how you do.
If you want help other's:" If you enter to trade, let other's see, when you enter, then other's can enter too and make some money".
Do you trade live account or Demo?

I am doing practice on FXDD for atleast this month using the Big E rules. I shared some of my trades but no one noticed so I left posting charts.
  • #13,247
  • Nov 5, 2011 12:45am Nov 5, 2011 12:45am
Quoting Nynv
I'm sorry if these had been answered before. On your first trade, how did you know to get out with a stoploss of 11 pips? I waited for the candle to close and got out with 40 pips loss. On your second trade, how did you know it was safe to enter the trade when the TDI is below 32? Should you not be looking for buy under 32 and sell over 68? I did not enter this trade because it was too over oversold per the TDI. Do you wait for the candle to close to enter a trade? Do you wait for the candle to close to exit trades regardless if you're in profit...
Nynv
Go to one of Phx62's posts and click on his name. You will find he has made 54 posts. Click on "54 posts". Several of your questions are answered.
Thanks for your help, warmth and straight talking Heather.
  • #13,248
  • Nov 5, 2011 2:29am Nov 5, 2011 2:29am
I've made some code changes in the current version of TDI indicator and add automatic angle check option.
Attached File(s)
File Type: mq4 TDI Red Green_v02.mq4   13 KB | 1,269 downloads
  • #13,249
  • Nov 5, 2011 2:49am Nov 5, 2011 2:49am
Quoting grandaevus
I've made some code changes in the current version of TDI indicator and add automatic angle check option.
Thanks a lot, this could be a great help, could you explain why the angle line jumps in my other indicator box instead of staying in same box as TDI.

cajun
  • #13,250
  • Nov 5, 2011 2:54am Nov 5, 2011 2:54am
Quoting cajun
Thanks a lot, this could be a great help, could you explain why the angle line jumps in my other indicator box instead of staying in same box as TDI.

cajun
cajun, please check your "ObjectWindow" settings.

Default is 1 but you should change it to your current tdi box number
  • #13,251
  • Nov 5, 2011 3:24am Nov 5, 2011 3:24am
Quoting grandaevus
I've made some code changes in the current version of TDI indicator and add automatic angle check option.
Nice work!

Does it alert you when the TDI cross?
We're all just one trade away from humility.
  • #13,252
  • Nov 5, 2011 3:26am Nov 5, 2011 3:26am
Quoting Drewas
Nice work!

Does it alert you when the TDI cross?
absolutely
  • #13,253
  • Nov 5, 2011 4:03am Nov 5, 2011 4:03am
Quoting grandaevus
cajun, please check your "ObjectWindow" settings.

Default is 1 but you should change it to your current tdi box number
That worked, thanks, one more question please. The angle is always above the 68 or below the 32, does that mean the TDI will cross this or is it only the direction of the trend?
  • #13,254
  • Edited 5:39am Nov 5, 2011 5:16am | Edited 5:39am
Quoting cajun
That worked, thanks, one more question please. The angle is always above the 68 or below the 32, does that mean the TDI will cross this or is it only the direction of the trend?
measures the momentum strength of tdi and tells to trader whether tdi angle is in buy zone, sell zone or avoid trading zone
Attached Image
  • #13,255
  • Nov 5, 2011 5:34am Nov 5, 2011 5:34am
Quoting grandaevus
I've made some code changes in the current version of TDI indicator and add automatic angle check option.
Can you show a screen shot of a chart with your new version?
  • #13,256
  • Nov 5, 2011 7:35am Nov 5, 2011 7:35am
Quoting traco1
Quick question, you just check every hour ? (the screen)
Yes, when I am looking for a TDI crossover entry during the hours I trade, I check the chart at the top of every hour.
  • #13,257
  • Nov 5, 2011 7:46am Nov 5, 2011 7:46am
Quoting Phx62
Yes, when I am looking for a TDI crossover entry during the hours I trade, I check the chart at the top of every hour.
...and you do this during the London session? Do you live in the US?
  • #13,258
  • Nov 5, 2011 8:22am Nov 5, 2011 8:22am
Quoting Nynv
I'm sorry if these had been answered before. On your first trade, how did you know to get out with a stoploss of 11 pips? I waited for the candle to close and got out with 40 pips loss. On your second trade, how did you know it was safe to enter the trade when the TDI is below 32? Should you not be looking for buy under 32 and sell over 68? I did not enter this trade because it was too over oversold per the TDI. Do you wait for the candle to close to enter a trade? Do you wait for the candle to close to exit trades regardless if you're in profit...
Trade 1: Price action is the key for exits. I closed this trade based on the PA. The setup candle showed a reversal at the open of London (which occurs quite often). I entered the trade on the open of the entry candle and the trade took over an hour to move 20 pips in my direction. That was the first clue that the trade may not go. The PA then pulled away about 30 pips from that high, so I cut my losses. If PA had reversed again, I still had the option to re-enter.
Trade 2: The EU was still in a strong downtrend for the second day in a row (mostly below the 32 line for that whole time), so I took a shot as the green pulled away from red. The trade worked out for me.
Entrys & Exits: I enter most H1 trades with a 50 pip TP & a 50 pip emergency SL. Only once in the past 4 or 5 months have I taken a 50 pip loss. Sometimes I wait for the trade to move 20 to 30 pips and move the SL to breakeven and let it run. Sometimes I monitor the trade and move the TP to 100 or 200 and trail the stop loss 5 pips behind the previous candle until I am taken out. If a trade goes against me early, I may exit at breakeven or take a small loss and look for another entry.
Daily trend: I base all my trading decisions on what I see on the chart I am trading. When trading the H1 chart, I look for PA, trend, support & resistance, entries, etc., all on that chart. If I traded the H4 or the Daily, I would base my trading decisions only on what I saw on the TF I was trading.
That is just how it works for me. Every trader must develop their own trading plan and what works for them. Learning to trade mechanically (with little emotion over wins or losses), learning money management and learning to evaluate each trade based on its merits (not overtrading) are all key ingredients of a successful trading plan.
As FXSurf stated a couple of posts back: "What do I need to be successful? How can that be achieved realistically? What is my tolerance for loss? Those were the questions I needed to answer."
Hope this helps you in your search for trading success.
  • #13,259
  • Nov 5, 2011 8:29am Nov 5, 2011 8:29am
Quoting wrenski
...and you do this during the London session? Do you live in the US?
Yes, I live in Arizona and I also operate a full time business during the day. I miss some sleep and set my alarm often, to trade, but it works for me. I sleep when I can. My kids are all grown and gone from home, so I don't have those daily responsibilities anymore, like some of you still have. I probably couldn't do this with kids still at home.
  • #13,260
  • Nov 5, 2011 8:38am Nov 5, 2011 8:38am
Quoting Phx62
Yes, I live in Arizona and I also operate a full time business during the day. I miss some sleep and set my alarm often, to trade, but it works for me. I sleep when I can. My kids are all grown and gone from home, so I don't have those daily responsibilities anymore, like some of you still have. I probably couldn't do this with kids still at home.
Mine are grown and gone too but I would have a really hard time getting up every hour to check the charts. I admire your drive and determination, along with your trading skills.
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