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Trading Made Simple

  • #13,361
  • Nov 8, 2011 8:59am Nov 8, 2011 8:59am
How did you get +30? From the close of the candle to now is only +20.
  • #13,362
  • Edited 9:48am Nov 8, 2011 9:19am | Edited 9:48am
Quoting zortan
How did you get +30? From the close of the candle to now is only +20.
Long at 791. Out at 821. It did it. Short now from 800. (Update: Break Even after quick push down. Position closed)
  • #13,363
  • Nov 8, 2011 9:25am Nov 8, 2011 9:25am
Hi guys, I recently discovered this thread, having tried dozens and dozens of systems, robots, magic bullets etc etc over the past three years! I have always traded the shorter time frames (like the Hare), I enjoyed the buzz and I liked to get in and out of trade quickly......but I also lost money quickly too!
With nothing to lose I decided last week to try this system and use the slow and boring four hour charts (like the tortoise).........but guess what........I made some money! I have made three trades in the past week (in between working full time) on the GBP/USD...all of them winners! +20, +25 and +50. Result!!! The Tortoise clearly has the right idea. I think I've finally found my Mojo! Kaaching! Thanks to everybody one here for sharing and for being so patient. This is where it's at, so I'll be sticking around for a while. Nice one guys!

Crewey
  • #13,364
  • Nov 8, 2011 9:42am Nov 8, 2011 9:42am
You take your trades before the signal bar is completed? Isn't that a bit risky, what if it had reversed?
  • #13,365
  • Nov 8, 2011 10:06am Nov 8, 2011 10:06am
what is a good exit strategy on this choppy market?

I got a long signal on h1 (e/u) this morning, but got out, because TDI went flat... would I have stayed in the trade, there wld some pips be in my pocket - otherwise I left the trades with small losses.

What exit strategy do you use? Do you look at TDI or something different? (Entries were ok, but exits were shit today..).
  • #13,366
  • Nov 8, 2011 10:44am Nov 8, 2011 10:44am
Quoting smash85
what is a good exit strategy on this choppy market?

I got a long signal on h1 (e/u) this morning, but got out, because TDI went flat... would I have stayed in the trade, there wld some pips be in my pocket - otherwise I left the trades with small losses.

What exit strategy do you use? Do you look at TDI or something different? (Entries were ok, but exits were shit today..).
Not too sure on the sanity of trading the H1 in a ranging market when the range is under 100 pips? By the time you get an entry signal it is probably turniong against you!

Think about your comment here - "Entries were ok, but exits were shit today"

Entries are only OK if they result in a winning trade. If the exits are killing you then that is sending a clearer message than I ever can and this is a great way to kill a live account very quickly.

Two options - drop to lower time frames (personally I'd rather have my eyes clawed out by cats) OR go fishing / play golf / drink scotch.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,367
  • Nov 8, 2011 11:09am Nov 8, 2011 11:09am
Thank-you for your reply and general message. I was actually thinking about going to the m15 timeframe, but will resist at least for now (the dark side is strong . Best not to overtrade anyway, but have been looking for a good trade since about thursday of last week. Only trading with the trend using 4hr and 1hr times. Mostly just during the london session. Take it easy man.
"IN CASH WE TRUST"
  • #13,368
  • Nov 8, 2011 11:10am Nov 8, 2011 11:10am
sell eurusd h1

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  • #13,369
  • Nov 8, 2011 11:33am Nov 8, 2011 11:33am
Quoting Britpip7
Not too sure on the sanity of trading the H1 in a ranging market when the range is under 100 pips? By the time you get an entry signal it is probably turniong against you!

Think about your comment here - "Entries were ok, but exits were shit today"

Entries are only OK if they result in a winning trade. If the exits are killing you then that is sending a clearer message than I ever can and this is a great way to kill a live account very quickly.

Two options - drop to lower time frames (personally I'd rather have my eyes clawed out by cats)...
hi BritPip,
thanks for your response.

I can read out of your message, that you´re just trading h4? How do you determine ranging markets? Using any indis? I read through CCI right now...

Do you only trade with the trend?

thanks for your response,
smash
  • #13,370
  • Nov 8, 2011 12:40pm Nov 8, 2011 12:40pm
Quoting zortan
You take your trades before the signal bar is completed? Isn't that a bit risky, what if it had reversed?
In almost every case, I'll take a short as soon as the red candle closes with a TDI cross to the downside. The opposite for a long - as per the rules.
Occaisionally I will enter before the first candle closes if it is turning color - or will wait around after the close for an even better entry, hoping that price will retrace a little. This may be bending the rules, but so is trading the 15min chart with this method, which is faster and more prone to quick reversals than the Hourly/4hr. Not trying to suggest anything. Just how I've been going about it. I'm really trying to catch that London/NY overlap directional move, which can result in nice 50+ pip runs. Today when the short failed, I immediately looked for price to run up over 1.3800 and continue...
  • #13,371
  • Nov 8, 2011 1:51pm Nov 8, 2011 1:51pm
This morning @ 06:04 CT I shorted the gbp/$ and lost 19 pips; an hour later I bought the same pr for +23 and also the $/Y for +21 - all on the one hour. I'm not use to trading this TF but E. says that if he were to trade NY he would trade the 1H. Still just looking at 6 prs and don't plan on changing that. And as much as I admire and enjoy Snarly's posts I'm not sure I want to use Malone's expanded indicators, but that's just me and certainly not a knock against S. Never! Good trading all, p.
  • #13,372
  • Nov 8, 2011 2:53pm Nov 8, 2011 2:53pm
Just took another 38 pips off a long GBP/USD! Keepin it simple and following the rules. I am liking this system! This time next year Rodney.............
  • #13,373
  • Nov 8, 2011 3:16pm Nov 8, 2011 3:16pm
Quoting Crewey
Just took another 38 pips off a long GBP/USD! Keepin it simple and following the rules. I am liking this system! This time next year Rodney.............
nice one!

But you´re not trading the hours, Big E recommends?
  • #13,374
  • Nov 8, 2011 3:40pm Nov 8, 2011 3:40pm
Like snarlyjack and some others I traded the London session on EU today....only I traded the H1....entered the trade at the beginning of the 2nd blue candle....it took over 5 hours to get that 50 pip TP....I got tired of monitoring the trade and went back to bed, checking it every hour or so and moving the SL up...it finally hit my TP while I at work. But that is trading!!!! Some good and fast....some very slow. The TDI green stayed above the red so I rode it out.
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  • #13,375
  • Nov 8, 2011 4:00pm Nov 8, 2011 4:00pm
Quoting smash85
nice one!

But you´re not trading the hours, Big E recommends?
FYI
The hours Big E recommended on this thread are for trading on the H1, H4 or daily time frames. If you read the original thread started by Big E (Craig Harris Stoch thread), which was set up trading the M15 time frame with the TDI, you will find that London and NY sessions were ok to trade.
Regards
  • #13,376
  • Nov 8, 2011 4:12pm Nov 8, 2011 4:12pm
Quoting Phx62
FYI
The hours Big E recommended on this thread are for trading on the H1, H4 or daily time frames. If you read the original thread started by Big E (Craig Harris Stoch thread), which was set up trading the M15 time frame with the TDI, you will find that London and NY sessions were ok to trade.
Regards
sounds good - I am trading London and NY-session.

Thanks for your response and gn8 all!
  • #13,377
  • Nov 8, 2011 4:15pm Nov 8, 2011 4:15pm
Quoting Phx62
Like snarlyjack and some others I traded the London session on EU today....only I traded the H1....entered the trade at the beginning of the 2nd blue candle....it took over 5 hours to get that 50 pip TP....I got tired of monitoring the trade and went back to bed, checking it every hour or so and moving the SL up...it finally hit my TP while I at work. But that is trading!!!! Some good and fast....some very slow. The TDI green stayed above the red so I rode it out.
Which TDI indicator are you using Phx62? Or which settings. Thanks.
  • #13,378
  • Nov 8, 2011 4:55pm Nov 8, 2011 4:55pm
Quoting smash85
hi BritPip,
thanks for your response.

I can read out of your message, that you´re just trading h4? How do you determine ranging markets? Using any indis? I read through CCI right now...

Do you only trade with the trend?

thanks for your response,
smash
Standard Big E setup - H4 and Day - possibly H1 but I am not able to trade NY of London opening!

Check out my previous posts for charts / indicators - I do watch the 55ema, but just for general idea on trends and I will trade counter trend if the move has sufficient PA
"To live with Passion, it takes Courage and Grace to survive"
  • #13,379
  • Nov 8, 2011 6:09pm Nov 8, 2011 6:09pm
As I'm in the UK I am trading the London and NY sessions. Works for me! Looking forward to some more piperoonies tommorrow...until then..night night!
  • #13,380
  • Nov 8, 2011 7:48pm Nov 8, 2011 7:48pm
Quoting zortan
Which TDI indicator are you using Phx62? Or which settings. Thanks.
I use the Traders Dynamic Index that I downloaded from Compass FX a long time ago.....settings are 13 0 34 2 0 7 0. When I trade the M15, I sometimes change the RSI Price Line setting from 2 to 1. The green crosses over a little sooner than with the 2 setting. Not recommending it, just something I try from time to time.
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